Claris Lifesciences Consolidated Q1FY16 PAT Rises 31%

(NewsVoir); Claris Lifesciences Ltd. (CU) announced its Un-Audited Financial Results for the quarter ended 30th June 2015 at its board meeting held at its registered office in Ahmedabad.

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Management Representation of the Financial of the Speciality Injectable Business:

(Values in Rupees Mn)

Key financial highlights of the Specialty Injectable Business:
Net Sales for Q1FY15 stood at Rs. 1,459 mn, which has grown by around3l% as compared to the previous quarter.
EBITDA has grown by 29%; to Rs. 520 mn; over the previous quarter.
EBITDA margins for the quarter stood at 36%, in line with the margins for the previous quarter.
Net Profit for the quarter stood at Rs. 208 mn the Profit during the previous quarter stood at Rs. 182 mn, showing a growth of 14% quarter on quarter.
Assuming this quarter will account for around 25% of the full year sales, the speciality injectables business can be expected to achieve around Rs. 5,800 mn of sales for FY2016.

Region wise Net Sales

(Values in Rupees Mn)

USA sales were in line the previous quarter, showed a modest growth of 6% quarter on quarter and accounted for 36% of the overall sales for the quarter.
The US sales have largely remained flat due to supplies issues from some of its raw material suppliers, these issues have now been resolved with alternate vendors being identified and added to the ANDAs.
This quarter saw growth from the Emerging Markets and Other Regulated Markets (ex USA).