New Delhi, India, 02 August 2024: Indegene Limited, a leading digital-first commercialization services company, announced financial results for the quarter ended June 30, 2024.
- Achieved revenue of INR 6,765 million in Q1FY25 with growth of 11.4% vs Q1FY24
- Robust EBITDA growth of 14.5% in Q1FY25 vs Q1FY24
- Became a zero-debt company
| SI. No. | Particulars | Quarter ended | ||
| June 30, 2024 | Mar 31, 2024 | June 30, 2023 | ||
| 1. | Revenue from operations | 6,765 | 6,730 | 6,075 |
| 2. | Revenue from operations (1) ($ Mn) | 81.1 | 81.1 | 73.9 |
| 3. | YoY revenue growth from operations (2) (%) | 11.4% | 6.5% | 16.6% |
| 4. | EBITDA (3) | 1,328 | 1,474 | 1,160 |
| 5. | EBITDA margin (%) | 19.6% | 21.9% | 19.1% |
| 6. | Profit after tax | 877 | 948 | 684 |
| 7. | Profit margin (%) | 13.0% | 14.1% | 11.3% |
- Based on average exchange rate of ₹83.4 per USD for quarter ended June 30, 2024, ₹83.0 per USD for quarter ended March 31, 2024, and ₹82.2 per USD for quarter ended June 30, 2023, respectively.
- Based on INR revenue. YoY growth for quarter June 30, 2023, based on unaudited financials.
- Earnings before interest, taxes, depreciation and amortization (“EBITDA”) represents profit/(loss) for the period before income tax expense, finance costs, depreciation and amortization expense, interest income and any exceptional items.
“In Q1FY25, we achieved revenue growth of 11.4% and robust EBITDA growth of 14.5% vs Q1FY24. We continue to see momentum and growth with our largest client and a few of our Top 20 clients with increased activity and volume levels tracking the larger pipeline of impending new product launches”, said Manish Gupta, Chairman and CEO, Indegene Limited. “Based on our conversations with our top clients, we anticipate similar momentum across the industry. Further, compared to last year, our pipeline is heathier and the quality of conversations with clients is much better, which gives us confidence about driving robust growth in the medium term.”
“Our Q1FY25 EBITDA margin of 19.6% and PAT margin of 13.0% is an improvement of 50 bps and 170 bps vs Q1FY24. Indegene is now a zero-debt company with repayment of loans, and we anticipate the financial leverage to drive stronger PAT growth going forward”, said Suhas Prabhu, CFO, Indegene Limited. “Also, we continue to strengthen our technology and automation initiatives, which we believe will have a positive impact on the margin in the future. Further, we anticipate that the EBITDA margin would have a similar trajectory as FY24 with a stronger H2 compared to H1.”