Companies

Zydus Wellness reports Q1 standalone net loss at ₹17 crore

Our Bureau Ahmedabad | Updated on July 31, 2020 Published on July 31, 2020

Standalone revenue from operations plunged to ₹10.80 crore

Zydus Wellness Ltd posted standalone net loss at ₹17.45 crore for the quarter ended June 2020, as against the loss of ₹18.76 crore in the corresponding quarter last year.

The company’s standalone revenues from operations stood at ₹10.80 crore, down from ₹36.9 crore in the comparable quarter last year.

As per the company’s statutory filings, total expenses were ₹60.56 crore for the quarter, of which ₹34.63 crore was finance cost.

On consolidated basis, Zydus Wellness registered profit of ₹89 crore, which is about 11 per cent up from ₹80 crore in the corresponding quarter last year. Consolidated revenues from operations fell to ₹537 crore as against ₹620 crore in the same pariod last year.

Earnings before interest, tax, depreciation and amortisation (EBIDTA) stood at ₹122.3 crore, nearly flat on a year-on-year basis.

“The past quarter was an unprecedented one due to the Covid-19 pandemic impacting company’s operations in the early part of the quarter. However with the logistical challenges being resolved and approvals for re-starting manufacturing plants and operating C&FA warehouses coming in, the company was able to recover from the early setbacks,” an official statement said.

The sales for April 2020 were impacted due to Covid, but May saw a revival in sales growth followed by double-digit growth in June.

However, during the quarter, Zydus Wellness launched several innovative products.

Zydus Wellness shares gained over 6 per cent in early trades to hit ₹1,660 on the BSE on Friday.

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Published on July 31, 2020
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