Pharmaceuticals firm Sequent Scientific announced Q1FY23 Result : Revenues at Rs 3,413 Million, up by 6.5%, Latam and Formulations drive growth Commenting on the Company’s performance, Rajaram Narayanan, Managing Director stated “Our overall sales in Q1 FY 23 grew 6.5% compared to corresponding quarter last year, reflecting a strong, resilient performance in a challenging environment. We continue to progress on our strategy to build a sustainable global business in the area of animal health. The Formulations segment grew 19.5% on constant currency basis, driven by a strong performance in Brazil, within the overall Emerging Markets region. The API business results however, are subdued owing to the exceptional impact of the fire incident at our Vizag plant in May, which hampered operations for a few days. We have now restored the operations in full and are geared to complete the backlog of shipments over the rest of the year. The macro environment will remain challenging on account of volatility in currencies and sustained inflationary cost pressures in raw materials and utilities. However, with our concerted efforts in engaging our long-term partners, cautious price increases, and initiatives on cost management, we expect acceleration in the second half of this financial year. We continue to invest in deepening our partnerships with global players, upgrading our manufacturing facilities, expanding the product pipeline and developing our people.” Result PDF