ALSO READSkin care or functional food? Zydus Wellness eyes acquisitions in FY19 Zydus Wellness Q3 net profit up 44% to Rs 362 mn on robust income Ashok Leyland, Shakti Pumps, Zydus Wellness, Jubilant Life hit 52-week high Cadila Healthcare works to build Zydus brand Motherson Sumi falls 12% in three days post December quarter results
Zydus Wellness reported 44% year-on-year (YoY) jump in net profit for the third quarter of the current fiscal to Rs 362 million on the back of robust growth in income from operations.
Total income from operations was up 23% YoY to Rs 1,324 million on a GST-adjusted basis. The earnings before interest, tax, depreciation and amortised expenses (Ebitda) was up by 49% to Rs 332 million during the quarter under review.
The company's flagship brand Sugar Free continues to enjoy leadership position with 94.4% share of the market. EverYuth Scrub and EverYuth Peel Off Mask continued to maintain leadership position in their respective categories with 33% and 86.5% market shares respectively, Zydus Wellness said while announcing Q3 results.
Analysts at Anand Rathi believe the revenue growth momentum will continue going ahead, driven by focused distribution expansion, greater investment in brand-building, innovations and a pick-up in the international business. However, the stock is currently trading close to its revised target price of Rs 1,280.
At 02:01 pm; Zydus Wellness trading at Rs 1,275, up 9% on the BSE, as compared to 0.39% rise in the S&P BSE Sensex. The trading volumes on the counter more than doubled with a combined 119,584 shares changed hands on the BSE and NSE so far.