Zydus Wellness' PAT grows multi-folds in Q3 FY22, sales hold steady

2 Feb 2022 , 01:14 PM

Zydus Wellness Ltd. announced its results for the quarter ending December 2021. The company reported Net Sales of Rs 384.90 crore for the quarter ended December 2021, as against Rs 376.40 crore for the previous corresponding quarter, reflecting a growth of 2.3% YoY. Net Sales for the current 9M period stood at Rs 1353.30 crore, up by 8% YoY as compared to the previous 9M period.

The company’s operating income for Q3 FY’22 stood at Rs 388,10 crore against Rs 381.60 crore for Q3 FY’21, up by 8% YoY. While operating income for the 9M period ended December 2021 was reported at Rs 1369.30 crore as against Rs 1261 crore for the corresponding 9M period, up by 8.6% YoY.

Company’s EBITDA is Rs 32.30 crore for the quarter ended December 2021, down by 34.8% on-year against the previous corresponding EBITDA of Rs 37.30 crore. Its EBITDA for the current 9M period stood at Rs 203.30 crore against Rs 199 crore for the previous 9M period, up by 2.1% YoY.

EBIDTA de-grew mainly due to impact on gross margins on account of product mix and inflationary price increases in key raw materials & packing materials.

Zydus’ net profit (PAT) stood at Rs 23.30 crore for Q3 FY’22 against Rs 17 crore for Q3 FY’21, registering a growth of 1239.10% on-year. Its PAT for the 9M period ended December 2021 was Rs 174.60 crore against a net loss of Rs 205 crore for the 9M period ending December 2020, reporting an upside of 953.90% YoY.

Company stated that its net sales growth remained marginal at 8% due to the loss of sales in Glucon-D and Nycil brands amidst the second wave of Covid-19 and its subsequent impact. Gross margins witnessed the impact of inflationary prices in key raw materials and packing materials.

Zydus Wellness is currently trading at Rs1,710 down by Rs30.55 or 1.76% from its previous closing of Rs1,740.55 on the BSE.