Indoco Remedies slips after weak Q4 numbers

Indoco Remedies fell 1.69% to Rs 218.50 after the company's consolidated net profit fell 53.4% to Rs 5.36 crore on 7.4% rise in net sales to Rs 263.14 crore in Q4 March 2020 over Q4 March 2019.

Profit before tax stood at Rs 7.76 crore in Q4 FY20, down 16.1% from Rs 9.25 crore in Q4 FY19.

On a standalone basis, the company's tumbled 53.6% to Rs 5.4 crore on 7.4% increase in net sales to Rs 263.17 crore in Q4 March 2020 over Q4 March 2019. EBITDA rose 16.84% to Rs 33.30 crore during the quarter. EBITDA margin stood at 12.7% in Q4 FY20, higher than 11.7% in Q4 FY19. The domestic formulation business grew by 10.3% and the international formulation business rose 12.5% during the quarter.

Aditi Panandikar, managing director, Indoco Remedies, said, "The company's domestic and international salesfor the quarter got impacted due to supply chain issues and the ban on Paracetamol exports in the month of March'20 due to Covid-19. However, we have adapted to the new normal and are trying to minimize the impact of the pandemic."

Indoco Remedies is a fully integrated, research-oriented pharma company with presence in 55 countries.

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