Continued pressure on US business offsets robust India performance
Revenues & profitability:
Performance summary:
Results | Q3 FY22 | Q3 FY21 | YoY% | ||
Rs cr | % | Rs cr | % | ||
Revenues | 2,108 | 1,995 | 6% | ||
Gross profit | 1,470 | 70% | 1,433 | 72% | 3% |
EBITDA | 585 | 28% | 612 | 31% | -5% |
PAT | 249 | 12% | 297 | 15% | -16% |
R&D spend | 123 | 6% | 112 | 6% | 9% |
Commenting on the Q3 results, Samir Mehta, Chairman, said:
“Due to the prolonged delays in reinspection of our US facilities on account of the pandemic, coupled with higher than anticipated pricing pressure, our US business has been adversely affected during this quarter. We remain hopeful of our prospects in the US market as soon as the facilities are reinspected. We have initiated cost optimisation measures which should help us get back on track with respect to margins in the upcoming quarters.
Our India business continues to be on a strong footing delivering significantly higher than market growth during the quarter.”
India:
Brazil:
United States:
Germany:
Corporate Comm India (CCI Newswire)
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