Q2 2023 Zydus Lifesciences Ltd Earnings Call Transcript
Good afternoon, ladies and gentlemen. Welcome to our post results teleconference for the quarter ended September 30, 2022. For today's call, we have with us Dr. Sharvil Patel, Managing Director; Mr. Nitin Parekh, Chief Financial Officer; Mr. Arvind Bothra, Senior Vice President, Investor Relations; and Mr. Alok Garg, Senior Vice President from the Managing Director's office. I hope you would have gone through the quarterly results, investor presentation and the press release, which are available on our website and also filed with the stock exchanges.
First, let me quickly run you through the Q2 FY '23 consolidated financial performance. We registered revenues of INR 41.3 billion, up 10% year-on-year. Excluding COVID-related revenues, the growth was 15% on a year-on-year basis, driven by our key markets, namely India and the U.S., both of which grew in double digits during the quarter. Reported EBITDA for the quarter was INR 8.2 billion, down 9% year-on-year. However, Adjusting for the COVID-related inventory provision
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