Indegene reports revenue over INR 2,500 crores for FY24

New Delhi: Indegene Limited reported a significant growth in revenue and earnings, with revenue surpassing INR 2,500 crores.

For the financial year 2023-24, Indegene’s revenue increased by 12.3% year-on-year to INR 25,896 million (USD 312.8 million). 

The company also saw a robust 28.6% growth in EBITDA, reaching INR 5,841 million, and a 26.5% rise in profit after tax (PAT) to INR 3,367 million. Earnings per share (EPS) grew by 25%.

In the fourth quarter of FY24, Indegene’s revenue from operations was INR 6,730 million (USD 81.1 million), reflecting a year-on-year growth of 6.5%. The quarter also saw significant increases in profitability, with EBITDA rising by 48.7% to INR 1,643 million, and PAT soaring by 94.6% to INR 949 million.

Manish Gupta, Chairman and Chief Executive Officer, stated, “Today in the marketplace we are known as a digital-first commercialization partner to the global life sciences industry. We have 63 active clients and work with all the top 20 global pharmaceutical companies. Our revenues very closely mirror the global life sciences industry’s spending on operations. 69% of our revenues come from the top 20 Pharma companies. The global Life Sciences industry is more than the USO 1.8 Tn Industry. We are excited about the opportunity in front of us.”

Suhas Prabhu, Chief Financial Officer, highlighted, “Our financial results reflect our focus on operational excellence, cost optimization and value-driven service delivery. While revenue grew steadily, we delivered strong growth in margins, with a healthy cash conversion and a strong balance sheet, providing us with the flexibility to invest in growth opportunities. We remain committed to delivering value to our clients and shareholders through deep domain expertise, innovation and operational excellence.”