Pharma major RPG Life Sciences Ltd on Wednesday (October 18) reported a 29.5% year-on-year (YoY) rise in net profit at ₹25.9 crore for the second quarter that ended September 30, 2023. In the corresponding quarter last year, RPG Life Sciences posted a net profit of ₹20 crore, the company said in a regulatory filing.

In the quarter, total revenue stood at ₹153.6 crore during the period under review, up 13.9% against ₹134.8 crore in the corresponding period of the preceding fiscal.

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At the operating level, EBITDA jumped 25.3 percent to ₹37.3 crore in the second quarter of this fiscal over ₹29.8 crore in the corresponding period in the previous fiscal.

EBITDA margin stood at 24.3 percent in the reporting quarter as compared to 22.1 percent in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

Last month, Yugal Sikri, the firm's managing director speaking to CNBC-TV18, highlighted the company's burgeoning cash surplus and its strategic intent to employ these resources for business expansion, making M&A an imminent priority.

"We have the cash surplus and cash surplus is increasing quarter after quarter. This cash surplus is intended to be used for business growth, and M&A is very much on our horizon. It's just that we need to get the right candidate. We have defined clearly our acquisition strategy," stated Sikri during the interview.

Sikri also discussed the company's impressive performance in the pharmaceutical market, particularly highlighting the success of the painkiller brand Naprosyn.

The results came after the close of the market hours. Shares of RPG Life Sciences Ltd ended at ₹1,415.95, down by ₹32.65, or 2.25 percent on the BSE.

(Edited by : Ajay Vaishnav)

First Published:Oct 18, 2023 7:37 PM IST