Solara Active Pharma Sciences Ltd posts consolidated net profit of Rs. 65.80 crore in Q3FY21

Solara Active Pharma Sciences Ltd has reported financial results for the period ended December 31, 2020.

Financial Results (Q3 FY20-21) - QoQ Comparison

The company has reported total income of Rs.434.98 crores during the period ended December 31, 2020 as compared to Rs.403.68 crores during the period ended September 30, 2020.

The company has posted net profit / (loss) of Rs.65.80 crores for the period ended December 31, 2020 as against net profit / (loss) of Rs.56.67 crores for the period ended September 30, 2020.

The company has reported EPS of Rs.17.29 for the period ended December 31, 2020 as compared to Rs.17.25 for the period ended September 30, 2020.

Financials	Q3 FY20-21	Q2 FY20-21	% Change
Total Income	₹ 434.98 crs	₹ 403.68 crs	7.75%
Net Profit	₹ 65.80 crs	₹ 56.67 crs	16.11%
EPS	₹ 17.29	₹ 17.25	0.23%

Financial Results (Q3 FY20-21) - YoY Comparison

The company has reported total income of Rs.434.98 crores during the period ended December 31, 2020 as compared to Rs.349.76 crores during the period ended December 31, 2019.

The company has posted net profit / (loss) of Rs.65.80 crores for the period ended December 31, 2020 as against net profit / (loss) of Rs.41.36 crores for the period ended December 31, 2019.

The company has reported EPS of Rs.17.29 for the period ended December 31, 2020 as compared to Rs.15.24 for the period ended December 31, 2019.

Financials	Q3 FY20-21	Q3 FY19-20	% Change
Total Income	₹ 434.98 crs	₹ 349.76 crs	24.37%
Net Profit	₹ 65.80 crs	₹ 41.36 crs	59.09%
EPS	₹ 17.29	₹ 15.24	13.45%

Financial Results (9 Months ended FY 20-21) - YoY Comparison

The company has reported total income of Rs.1191.66 crores during the 9 months period ended December 31, 2020 as compared to Rs.1040.37 crores during the 9 months period ended December 31, 2019.

The company has posted net profit / (loss) of Rs.164.75 crores for the 9 months period ended December 31, 2020 as against net profit / (loss) of Rs.96.79 crores for the 9 months period ended December 31, 2019.

The company has reported EPS of Rs.49.28 for the 9 months period ended December 31, 2020 as compared to Rs.36.61 for the 9 months period ended December 31, 2019.

Financials	9 Months ended FY20-21	9 Months ended FY19-20	% Change
Total Income	₹ 1191.66 crs	₹ 1040.37 crs	14.54%
Net Profit	₹ 164.75 crs	₹ 96.79 crs	70.21%
EPS	₹ 49.28	₹36.61	34.61%

Commenting on the performance, Bharath Sesha, the MD & CEO of the Company, remarked "Solara's resilient product portfolio and our robust execution has enabled us to deliver yet another record quarter. Our passionate and engaged employees have navigated the trying days of the last couple of quarters and continue to excel in meeting customer expectations.

Our performance has been driven by our ability to hold on to increased share of wallet with existing customers and breaking through in new markets with new customers. We have shown continued strength in regulated markets, this coupled with strong sales growth in other markets has provided twin growth engines for Solara.

The processes and mindset needed to deliver continuous cost improvements are well anchored at Solara. During the past quarter we continued to benefit from the excellent execution of all our cost improvement plans.

We have filed 5 new DMFs - 3 in US and 2 in EU in the quarter thereby gaining momentum for future growth. Our CRAMs business continues to track well to plan and the leading indicators of our business build stay robust. While the demand picture on some of our products has moderated, the diversity of our product portfolio will continue to stand us in good stead to deliver strong growth in Revenue and EBITDA in FY 21."

Shares of Solara Active Pharma Sciences Ltd was last trading in BSE at Rs.1505 as compared to the previous close of Rs. 1445.95. The total number of shares traded during the day was 10293 in over 1335 trades.

The stock hit an intraday high of Rs. 1530.6 and intraday low of 1457. The net turnover during the day was Rs. 15373631.

Source : Equity Bulls

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