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Zydus Wellness jumps after Q1 PAT rises 11% YoY

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Zydus Wellness surged 6.27% to Rs 1662 after the company's consolidated net profit rose 10.9% to Rs 89.2 crore on 13.4% decline in revenue from operations to Rs 537.4 crore in Q1 FY21 over Q1 FY20.

Total expense contracted by 11.7% to Rs 456.04 crore in the first quarter as compared to the same period last year.

EBITDA rose marginally by 0.3% on a year-on-year basis to Rs 122.3 crore during the quarter.

Profit before tax grew by 4.1% to Rs 83.1 crore in Q1 June 2020 over Q1 June 2019. The company wrote back taxes to the tune of 6.05 crore during the quarter.

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

"While the sales for the month of April 2020 was impacted due to COVID, the month of May saw a revival of sales growth followed by double digit growth in the month of June.

Coping with the pandemic, the company continues to be agile in its responses and execution of its plans. Stepping up the marketing initiatives for its marquee brands, Zydus Wellness has been harnessing the power of digital communications and social media to reach out to its customers," the company said.

Zydus Wellness is engaged in the development, production, marketing and distribution of health and wellness products.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, July 31 2020. 12:42 IST