Companies

Zydus Wellness Q4 standalone net loss shrinks to ₹9 crore

Ahmedabad | Updated on May 10, 2021

Consolidated Q4 profit up 93% YoY at ₹133 crore

Consumer products maker Zydus Wellness Limited on Monday posted a standalone net loss of ₹9 crore for the quarter ended March 31, 2021 on ₹42 crore as revenues from sales.

For the financial year, the company’s standalone net loss widened to ₹182 crore from ₹41 crore in the previous year.

Standalone revenues from sales for the fiscal stood at ₹113 crore (₹154 crore).

On consolidated basis, the company posted a net profit of ₹133 crore for the quarter under review, up 93 per cent as against ₹69 crore in the corresponding quarter a year ago.

Consolidated income from sales increased to ₹601 crore (₹485 crore).

For the fiscal FY21, the company’s consolidated net profit was at ₹119 crore — down 16 per cent from ₹142 crore in the previous year. Consolidated revenues from sales stood at ₹1,854 crore (₹1,734 crore).

Dividend declaration

The board of directors on Monday announced recommended a final dividend of ₹5 per equity share on the face value of ₹10 each (i.e. 50 per cent) for the fiscal 2020-21 to the equity shareholders. The payment of dividend is subject to approval of the shareholders.

Zydus Wellness informed that due to seasonality of some of the Group’s products, its Group’s revenues and profits are skewed in favour of the first and last quarters of the financial year. Hence the performance of these quarters is not representative and cannot be generalised for other quarters.

It also clarified that In the current Covid-19 situation, “the Company continues to believe that the impact of Covid-19 on its business; assets, internal financial controls, profitability and liquidity, both present and future, would be limited and there is no indication of any material impact on the carrying amounts of inventories, goodwill, intangible assets, trade receivables, investments and other financial assets.”

Shares of Zydus Wellness traded at ₹2,101.10 on the BSE.

Published on May 10, 2021

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor

You May Also Like