Claris Lifesciences turns healthier with strong Q1 numbers

Pharma Midcap, Claris Lifesciences has posted its Q1FY17 results on Aug 19 post market hours. The company has reported highly positive QoQ topline and bottomline numbers where net profit has witnessed a triple digit growth.  
 
The stock of Claris has posted 11 per cent growth on Aug 18 ahead of results and remained volatile to positive on the day of results making a new 52 week high at Rs 287.40, ultimately closing with marginal gains of 0.65 per cent at Rs 281.30. In the last month the stock has given a multiple resistance breakout and is likely to remain in the positive trajectory for some more time.
 
Company’s QoQ consolidated revenues for Q1FY17 have come in at Rs 197.67 crore as against Rs 166.76 crore, an increase of 18.5 per cent. Meanwhile its EBITDA has risen by 59.3 per cent at Rs 44.19 crore as against Rs 27.74 crore in the last quarter, despite of 96 per cent rise in the cost of raw materials at Rs 34.59 crores.  
 
During the quarter, company’s tax expenses have grown by 82 per cent to Rs 11.58 crore and yet the net profit has risen by 516 per cent to Rs 22 crores from Rs 3.57 crore in Q4FY16.
 
The Year on Year (YOY) results show that, Company’s consolidated revenues have dropped by 6.7 per cent from Rs 37.06 crore in the same quarter last year. EBITDA of company too has dropped by 10 per cent from Rs 49.1 crore. However, Year on Year, net profit (PAT) has increased marginally by 8.4 per cent from Rs 20.29 crores in Q1FY16, despite rise in taxes.
 
Claris Life deals majorly in speciality injectables; and its USA sales have grown by 106 per cent to Rs 103 crores, which is in line with the company’s long term strategies. However, emerging markets' sales have decreased from Rs 60 crores to Rs 52 crores.