Indian drugmaker Zydus Lifesciences reported a drop in quarterly profit due to rising costs, despite strong sales in key markets. The company’s consolidated net profit fell to 9.40 billion rupees ($98.5 million) for the quarter ended June 30, compared with 14.67 billion rupees a year ago.
Key Details
Overall revenue jumped 22% to 80.17 billion rupees, but expenses rose at a faster pace of 41.4%, driven by a 32% jump in R&D costs and a 47.5% jump in other operating expenses. Sales in India jumped 19.5% to 18.16 billion rupees, while sales in the consumer wellness business surged 67.2% to 14.29 billion rupees. North America sales, however, dropped 2.6% to 30.98 billion rupees.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
