Sequent Scientific slips 16% on disappointing June quarter results

Ebitda margins contracted 460 basis points to 11.2 per cent in Q1FY22 from 15.8 per cent in Q4FY21

Shares of Sequent Scientific dipped 16 per cent to Rs 236 on the BSE in intra-day trade on Wednesday after the company reported a sharp 86 per cent year-on-year (YoY) decline in its consolidated profit after tax (PAT) at Rs 2.65 crore for the quarter ended June 2021 (Q1FY22). The pharmaceutical company had posted a PAT of Rs 19.35 crore in the year-ago quarter.

In Q1FY22, its revenues grew 8.6 per cent YoY to Rs 320.5 crore from Rs 295.3 crore in Q1FY21. The formulation business reported an over 15 per cent growth, while API business reported de-growth after many quarters