Eris Lifesciences' consolidated net profit rose marginally to Rs 101.86 crore in Q3 FY23 as against Rs 100.77 crore recorded in Q3 FY22.
Revenue from operations jumped 27.4% to Rs 417.84 crore in quarter ended 31 December 2022 as compared to Rs 328.07 crore in Q3 FY22.
Consolidated profit before tax stood at Rs 106.54 crore in Q3 FY23, down 2.2% from Rs 108.98 crore reported in the same period previous year. Total expenses surged 39.67% year on year to Rs 318.96 crore in Q3 FY23.
EBITDA rose 12.7% to Rs 137.2 crore in Q3 FY23 as compared with Rs 121.7 crore in recorded in Q3 FY22. EBITDA margin reduced to 32.4% in Q3 FY23 as against 36.6% in Q3 FY23.
Meanwhile, the pharmaceutical company said that its wholly owned subsidiary, Eris Oaknet Healthcare proposed to acquire a portfolio of 9 dermatology brands from Glenmark Pharmaceuticals. The aggregate cost of acquisition is Rs 340 crore. Only a part of the dermatology portfolio is being acquired through the transaction.
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The company stated that this acquisition deepens its presence in Medical Dermatology - anti-fungal & anti-psoriasis segments and also strengthens its presence in the dermatology therapy. Post deal, the Derma therapy's contribution to Eris revenue will increase from 7.6% to 12.7%, it added.
Eris Lifesciences is engaged in manufacturing, marketing and selling of generics within the chronic and acute categories of the Indian pharmaceutical market.
Shares of Eris Lifesciences declined 1.36% to Rs 642.95 on the BSE.
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