Blue Jet Healthcare (BLUEJET) Q1 23/24 earnings summary

Executive summary

• Q1 ended June 30, 2023: revenue from operations was ₹1,795.41m and profit after tax was ₹441.21m; both exceeded the comparative quarter.

• Auditors issued an unmodified opinion on the special purpose Ind AS statements, prepared for proposed IPO financial information.

Financial highlights

• Revenue from operations ₹1,795.41m vs ₹1,445.17m YoY; total income ₹1,846.04m vs ₹1,488.77m.

• PBT ₹579.21m vs ₹364.49m; PAT ₹441.21m vs ₹278.49m; total comprehensive income ₹441.94m vs ₹279.34m.

• Basic and diluted EPS ₹2.54 vs ₹1.61, not annualised.

• Other income ₹50.63m included ₹33.88m gain on investment fair valuation and ₹12.66m net exchange gain; other expenses included ₹13.91m fire loss.

• Operating cash flow ₹423.20m vs ₹570.33m; investing cash outflow ₹401.33m vs ₹262.43m; cash and equivalents closed at ₹666.25m.

Segment performance

• Pharmaceutical and healthcare products constituted one operating segment; all non-current assets were located in India.

• Revenue by product: contrast media ₹1,286.33m, high-intensity sweetener ₹401.55m, pharma intermediates and APIs ₹94.59m.

• Revenue by geography: Norway ₹1,072.05m, India ₹218.61m and rest of world ₹495.90m; one customer represented 59.71% of operating revenue.