February 2 Zydus Wellness Limited posted consolidated net profit of ₹23.30 crore for the quarter ended December 31, 2021, against net profit of ₹1.74 crore in the same quarter a year ago.
Company's consolidated revenues from operations stood at ₹385 crore for the quarter against ₹376 crore in the corresponding quarter a year ago.
"Like the rest of the FMCG industry, the company continued to face pressure on the gross margins due to high commodity inflation," Zydus Wellness informed in a statement after results announcement.
However, the company has taken several measures to address this challenge which shall be reflected in gross margin improvement in the coming quarters, it added.
Brand-wise performance
Five of the company’s brands Glucon-D, Sugar Free, Nycil, Everyuth Scrub and Everyuth Peel off face mask maintained their leadership positions in their respective categories. Following the steady increase in demand for Nutralite, the brand delivered a good double-digit growth.
Zydus Wellness has completed three years of acquisition of Heinz India Pvt Ltd, which had brought top brands like Complan, GluconD, Nycil to Zydus Wellness' kitty.
"Over the last three years, despite losing sales in critical months for two consecutive years due to Covid, the company has consolidated and grown market shares across categories," the company said.
On standalone basis, Zydus Wellness reported net profit of ₹12.56 crore against net loss of ₹133 crore in the corresponding quarter last year. Standalone revenues from operations stood at ₹62 crore against ₹38 crore in the same period last year.
Zydus Wellness shares traded in red on Wednesday at ₹1,700 — down 2.33 per cent from previous close on BSE.