Gennex Laboratories Reports Robust Q1 Performance with 20% Revenue Growth

Gennex Laboratories Limited , a prominent player in the bulk drugs and biotech products sector, has announced its financial results for the first quarter, showcasing significant growth in both revenue and profitability.

Strong Revenue Growth

The company reported a substantial increase in its standalone revenue, which rose to Rs 2,564.00 lacs, marking a 20.2% growth compared to Rs 2,133.40 lacs in the same quarter of the previous year. This impressive top-line performance underscores the company's strong market position and effective growth strategies.

Profit Performance

Gennex Laboratories demonstrated resilience in its bottom line, with standalone net profit reaching Rs 414.95 lacs, compared to Rs 416.60 lacs in the corresponding quarter last year. While this represents a marginal decrease of 0.4%, it's worth noting that the company maintained a robust profit level despite potential challenges in the operating environment.

Consolidated Results

On a consolidated basis, which includes the performance of its subsidiary, Deccan Remedies Ltd, Gennex Laboratories reported even stronger results:

• Consolidated revenue stood at Rs 3,417.75 lacs, up 20.7% from Rs 2,832.18 lacs in the previous year's quarter.
• Consolidated net profit increased to Rs 501.64 lacs, showing a 7.7% growth compared to Rs 465.84 lacs in the same period last year.

Operational Highlights

The company's operational efficiency is evident from its financial statements:

Earnings Per Share and Capital Structure

The company reported a slight decrease in its standalone basic earnings per share (EPS) to Rs 0.18 from Rs 0.18 year-over-year. However, the consolidated basic EPS improved to Rs 0.22 from Rs 0.21 year-over-year.

Gennex Laboratories' paid-up equity share capital increased to Rs 2,314.48 lacs, compared to Rs 2,274.48 lacs in the previous year, indicating potential capital raising activities or stock-based compensation issuances.

Management Commentary

While specific management comments were not provided in the LODR data, the strong financial performance suggests that Gennex Laboratories' focus on its core business of bulk drugs, biotech products, and intermediates continues to yield positive results.

The unaudited financial results were reviewed by the Audit Committee and approved by the Board of Directors at their meeting. The company's statutory auditors have carried out a limited review of these results in accordance with the regulatory requirements.

Investors and stakeholders can access the detailed quarterly unaudited financial results on the company's website ( www.gennexlab.com ) and the BSE website ( www.bseindia.com ).

As Gennex Laboratories continues to demonstrate strong growth and maintain profitability, it remains well-positioned in the pharmaceutical and biotech sectors, with its Q1 results reflecting the company's resilience and operational strength in a dynamic market environment.