Emcure Pharmaceuticals Q2 Results: Profit Jumps 39%, Revenue Up 20%

The quarter saw strong growth, especially in the international businesses that grew 25% annually and 18% sequentially. The Canadian business continued to perform well, achieving a 51% annual growth, driven by robust growth in the company's base business and its subsidiary, Mantra.

The rest-of-the-world market business grew 29% annually, aided by strong growth in both antiretroviral and non-ARV segment. The company continues to see strong traction in its key focus markets. Europe experienced steady growth of 6%, driven by an increase in base business. Emcure's domestic business grew 15% to Rs 933 crore, led by a steady performance in the base business and further aided by the Sanofi distribution agreement.

"Emcure witnessed a strong performance in Q2," Chief Executive Officer Satish Mehta said. "We have made significant investments in both our international and domestic businesses over the past two years and the benefits of these efforts are starting to particularly reflect in the growth of our international business."

The recent inorganic additions — Sanofi partnership in India and Mantra acquisition in Canada — are now fully integrated and the focus is now on deriving both revenue and operational synergies, the managing director said.

"We aim to enhance the margins by leveraging operating efficiencies, while continuing to drive strong growth in both Indian and International markets through new product launches and market share gains," the CEO added.

Shares of Emcure closed 0.36% lower at Rs 1,439.80 apiece on the NSE, compared to a 1.16% decline in the benchmark Nifty 50.