Solara Active Pharma Sciences Ltd posts Rs. 42.28 crore consolidated PAT in Q1FY21

Solara Active Pharma Sciences Ltd has reported financial results for the period ended June 30, 2020.

Financial Results (Q1 FY 2020-21) - QoQ Comparison

The company has reported total income of Rs.353 crores during the period ended June 30, 2020 as compared to Rs.308.90 crores during the period ended March 31, 2020.

The company has posted net profit / (loss) of Rs.42.28 crores for the period ended June 30, 2020 as against net profit / (loss) of Rs.17.82 crores for the period ended March 31, 2020.

The company has reported EPS of Rs.14.74 for the period ended June 30, 2020 as compared to Rs.6.21 for the period ended March 31, 2020.

Financials	Q1 FY2020-21	Q4 FY19-20	% Change
Total Income	₹ 353 crs	₹ 308.90 crs	14.28%
Net Profit	₹ 42.28 crs	₹ 17.82 crs	137.26%
EPS	₹ 14.74	₹ 6.21	137.36%

Financial Results (Q1 FY 2020-21) - YoY Comparison

The company has reported total income of Rs.353 crores during the period ended June 30, 2020 as compared to Rs.334.53 crores during the period ended June 30, 2019.

The company has posted net profit / (loss) of Rs.42.28 crores for the period ended June 30, 2020 as against net profit / (loss) of Rs.26.52 crores for the period ended June 30, 2019.

The company has reported EPS of Rs.14.74 for the period ended June 30, 2020 as compared to Rs.10.22 for the period ended June 30, 2019.

Financials	Q1 FY2020-21	Q1 FY2019-20	% Change
Total Income	₹ 353 crs	₹ 334.53 crs	5.52%
Net Profit	₹ 42.28 crs	₹ 26.52 crs	59.43%
EPS	₹ 14.74	₹ 10.22	44.23%

Commenting on the performance, Bharath Sesha, the MD & CEO of the Company, added "We have started the new financial year on a strong foundation despite having a lockdown situation for three weeks in the early phase of Covid-19. Solara has delivered strong sales growth and has reported its highest ever EBITDA performance on the back of a strong base business demand and also the introduction of new products across different markets. We are also thankful to our employees who have given their best every single day amidst the hardships in these unprecedented times and have helped Solara in serving its partners and fulfilling a larger purpose for society. As Jitesh will be leaving Solara, the Board and leadership would like to thank him for his efforts in building Solara into a Global API platform and accomplish all of this in a short period. I want to extend my gratitude personally and thank Jitesh for sharing his strategic insights and guiding me through this period of transition."

Jitesh Devendra, the outgoing MD of the Company, further added "I had the pleasure of leading Solara and be part of an exciting and remarkable journey. I am pleasantly happy with the evolution of Solara into a leading global company in a short span, and I must thank the founders and the Board members who reposed their trust in me in driving many milestones for this great Company. I thank my colleagues for working along with me in this journey and deliver on the commitments in all possible ways. As I step aside from the Board and the leadership position today, I feel very deeply connected to Solara, a company that we christened. That said, I remain very confident of Solara's future, and I strongly feel that Bharath and his team would continue to deliver and continue to create value for all our stakeholders. I wish the best for Solara as they embark on the next phase of growth and success."

Shares of Solara Active Pharma Sciences Ltd was last trading in BSE at Rs.763.8 as compared to the previous close of Rs. 656.2. The total number of shares traded during the day was 59447 in over 5846 trades.

The stock hit an intraday high of Rs. 770 and intraday low of 657.9. The net turnover during the day was Rs. 43129925.

Source : Equity Bulls

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