Unichem Labs posts Q4 net loss of Rs 17 cr

Unichem Laboratories reported a consolidated net loss of Rs 17.19 crore in Q4 March 2020 compared with net profit of Rs 37.99 crore in Q4 March 2019.

Net sales fell 14.6% year-on-year (YoY) to Rs 320.23 crore during the quarter. Profit before tax stood at Rs 0.44 crore in Q4 FY20, down 98.5% from Rs 28.98 crore in Q4 FY19. Current tax expense slumped 59.10% to Rs 2.92 crore during the period under review. Total R&D expenditure fell 11.3% to Rs 31.27 crore during the quarter compared with Rs 35.24 crore in the same period last year.

With respect to the impact of COVID-19 on its business operations, the company said, "The actual impact of the global health pandemic may be different from that which has been estimated, as the COVID-19 situation evolves in India and globally. The Company will continue to closely monitor any material changes to future economic conditions."

Unichem Laboratories is an international, integrated, specialty pharmaceutical company. It manufactures and markets a large basket of pharmaceutical formulations as branded generics as well as generics in several markets across the world.

Shares of the drug maker fell 4.62% to Rs 158.80 on Friday.

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