Hemas posts Rs. 29.1 Bn first three months revenue

Hemas delivered a healthy performance for the first three months of the financial year 2023/24, with the Group posting revenue of Rs. 29.1 billion, a 17.2 per cent growth over the previous year while the operating profits witnessed a growth of 6.0 per cent to Rs. 2.2 billion.

Amidst the increased finance cost, the Group’s earnings growth was limited, witnessing a marginal improvement of 1.2 per cent to Rs. 1.1 billion. The Consumer Brands Sector reported a revenue of Rs. 11.1 billion for the quarter, a growth of 26.9 % over last year driven by relatively high market prices. In line with revenue growth, operating profit and earnings for the quarter improved by 62.8 per cent and 84.2 per cent to reach Rs. 1.1 billion and Rs.919.2 million respectively.

The Healthcare Sector posted a revenue of Rs. 17.6 billion for the quarter, a growth of 12.5 % over last year mainly due to the improved performance of the Pharmaceutical Business. However, the Sector failed to convert the growth momentum in revenue into profits, primarily due to increased finance costs and taxes. The operating profit for the quarter declined marginally to Rs. 1.1 billion while the earnings declined by 33.3% to Rs. 475.3 million.

During the year the Pharmaceutical Distribution Business introduced over 30 products into the market in many key categories.

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