Sequent Scientific firms up after solid Q1 numbers

Sequent Scientific rose 2.56% to Rs 70.10 at 15:24 IST on BSE after consolidated net profit surged 249.4% to Rs 11.46 crore on a 18.2% increase in net sales to Rs 278.02 crore in Q1 June 2019 over Q1 June 2018.

The result was announced during market hours today, 31 July 2019.

Meanwhile, S&P BSE Sensex was up 68.18 points or 0.18% at 37,465.42.

On BSE, 1.28 lakh shares were traded in Sequent Scientific counter, compared to a 2-week average of 43,000 shares. The stock hit an intraday high of Rs 71.30 and an intraday low of Rs 67.60. It hit a 52-week high of Rs 89 on 22 January 2019 and a 52-week low of Rs 42.45 on 9 October 2018.

The firm's consolidated EBITDA rose 54.2% to Rs 38.5 crore in Q1 June 2019 over Q1 June 2018. The consolidated EBITDA margin showed an improvement of 330 bps to 13.9% during Q1 June 2019 over Q1 June 2018.

The managing director of Sequent Scientific, Manish Gupta, has said, "We have started the new financial year on a positive note and carried forward the growth momentum of the previous year. The first quarter has seen revenue growth of 18.2% (22.4% on constant currency terms) while our EBITDA has grown by 54%, with a 330 bps margin expansion. The growth was strong all-round, API grew 46.2% and formulations at 14.6% on a constant currency basis. The performance is even more satisfying given the challenging environment of extreme weather (India & EU) and currency (EU & Turkey). We stay confident of delivering our FY20 objectives, both in terms of strategic deliverables and financial outcomes."

Headquartered in Mumbai, Sequent Scientific operates in the domains of animal health (Alivira) and analytical services. Sequent Scientific has eight manufacturing facilities based in India, Spain, Germany, Brazil and Turkey with approvals from global regulatory bodies including USFDA, EUGMP, WHO and TGA among others.

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