Sanofi India fell 1.01% to Rs 7400.65 after net profit fell 8.1% to Rs 85.40 crore on 9.4% increase in net sales to Rs 784.50 crore in Q1 March 2020 over Q1 March 2019.
Total expenses in the first quarter of the calendar year 2020 rose 16.8% on a year-on-year (YoY) basis to Rs 658.20 crore, due to higher raw material costs (up 13.9% YoY) and higher employee expenses (up 16.1% YoY).
Profit before tax stood at Rs 134.60 crore in Q1 CY20, down by 10.7% from Rs 150.70 crore in Q1 CY19. Current tax expenses fell 9.32% to Rs 53.50 crore in Q1 CY20 over Q1 CY19.
"COVID-19 situation has not had any material effect on the company's financial results for the quarter ended March 31, 2020. The effect of COVID-19 situation on the operations and financial results of the company for the financial year ending 31 December 2020 cannot be estimated at this stage", the company said.
Sanofi India manufactures pharmaceuticals and chemicals. The company has portfolio of vaccines, major biological products, generics medicines, consumer healthcare, animal healthcare, and has a presence in both traditional and emerging markets.
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