Zydus Wellness June quarter net profit increases 11% at Rs 89 crore

Zydus group firm Zydus Wellness on Friday reported a 10.94 per cent rise in consolidated net profit at Rs 89.20 crore for the quarter ended June 30, 2020.

The company had posted a net profit of Rs 80.40 crore for the corresponding period of the previous year,Zydus Wellness said in a filing to BSE.

Consolidated revenue from operations of the company stood at Rs 537.37 crore for the quarter under consideration, as against Rs 620.25 crore in the year-ago period, it added.

The past quarter was an "unprecedented one" due to the COVID-19 pandemic impacting the company's operations in the early part of the quarter, Zydus Wellness said.

 

"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,"it added.

Coping with the pandemic, the company continues to be agile in its responses and execution of its plans,Zydus Wellness said.

Shares of Zydus Wellness were trading at Rs1,641per scrip on BSE, up 4.96 per cent from its previous close.