Zydus Wellness Ltd posted a standalone net profit of ₹29 crore for the quarter ended March 31, 2023, up 123 per cent against ₹13 crore in the corresponding quarter a year ago. Standalone revenues from operations stood at ₹59 crore (₹60.43 crore).
For the financial year 2022-23, the company’s standalone net profit stood at ₹66 crore (₹13 crore), recording a 400-per cent jump. Standalone revenues were at ₹251 crore (₹216 crore).
On a consolidated basis, the company’s quarterly net profits stood at ₹145 crore v (₹133 crore), up 9 per cent year-on-year. Consolidated income for the quarter stood at ₹713 crore, up 11 per cent from ₹640 crore in the same quarter last year. For the fiscal 2022-23, consolidated net stood at ₹310 crore (₹309 crore). Consolidated revenues from operations stood at ₹2,255 crore (₹2,009 crore). Consolidated EBIDTA was up by 2.2 per cent y-o-y to ₹144.6 crore.
The company said five of its brands Glucon-D, Sugar Free, EverYuth Scrub, Peel Off Face Mask and Nycil maintained their leadership positions in their respective categories as of March 2023.
The board of directors, at a meeting held on Wednesday, recommended a final dividend of ₹5 (or 50 per cent) per equity share of ₹10 each.
Consumer sentiment
The company said consumer sentiment has gradually started to improve in the rural areas and urban demand continued to be better than rural. On inflation the company noted that the retail inflation was moderating sequentially. Commenting on the key input costs, “effective price increase of 7.8 per cent in Q4 FY23 and improved product mix helped offset inflationary pressure resulting in gross margin improvement.” However, it noted that the gross margin of the non-dairy portfolio continued to improve and the elevated price of milk continued to partially impact the dairy portfolio’s gross margin.
Zydus Wellness shares ended at ₹1,482 a piece, down 3.68 per cent, on the BSE on Wednesday.