Balaxi Pharmaceuticals Q3 net up 11%

Hyderabad: Hyderabad-based Balaxi Pharmaceuticals reported a net profit of Rs 12.2 crore for the third quarter ended December 31, 2021, registering a 11 per cent growth compared to Rs 11 crore recorded during the corresponding period of the previous year. The company’s revenue slipped 6.5 per cent to Rs 61.7 crore in the quarter under […]

Hyderabad: Hyderabad-based Balaxi Pharmaceuticals reported a net profit of Rs 12.2 crore for the third quarter ended December 31, 2021, registering a 11 per cent growth compared to Rs 11 crore recorded during the corresponding period of the previous year.

The company’s revenue slipped 6.5 per cent to Rs 61.7 crore in the quarter under review compared to Rs 66 crore during Q3FY21. EBITDA went up 11 per cent to Rs 13.2 crore in Q3FY22 from Rs 11.9 crore in Q3FY21.

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Commenting on the performance, Ashish Maheshwari, CMD, Balaxi Pharmaceuticals, said, “We strategically balanced the growth both in terms of volume and price hikes, generally led by passing on the higher costs. The pharmaceuticals business remains our core strength and our results demonstrates it to be our major growth driver, with increasing revenue share coming in from recently entered geographies.”

“We continue to remain debt-free and are focused on maximising stakeholder value. At Balaxi, we are confident about achieving our long-term growth aspirations and look forward to expanding into many other territories in the coming years.”

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