Neuland Laboratories Ltd Q1FY22 consolidated net profit slides to Rs. 8.73 crore

Neuland Laboratories Limited. has reported financial results for the period ended June 30, 2021.

Financial Results (Q1 FY 2021-22) - QoQ Comparison

The company has reported total income of Rs.202.94 crores during the period ended June 30, 2021 as compared to Rs.259.30 crores during the period ended March 31, 2021.

The company has posted net profit / (loss) of Rs.8.73 crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.17.29 crores for the period ended March 31, 2021.

The company has reported EPS of Rs.6.81 for the period ended June 30, 2021 as compared to Rs.13.48 for the period ended March 31, 2021.

Financials	Q1 FY2021-22	Q4 FY20-21	% Change
Total Income	₹ 202.94 crs	₹ 259.30 crs	-21.74%
Net Profit	₹ 8.73 crs	₹ 17.29 crs	-49.51%
EPS	₹ 6.81	₹ 13.48	-49.48%

Financial Results (Q1 FY 2021-22) - YoY Comparison

The company has reported total income of Rs.202.94 crores during the period ended June 30, 2021 as compared to Rs.206.12 crores during the period ended June 30, 2020.

The company has posted net profit / (loss) of Rs.8.73 crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.15.16 crores for the period ended June 30, 2020.

The company has reported EPS of Rs.6.81 for the period ended June 30, 2021 as compared to Rs.11.82 for the period ended June 30, 2020.

Financials	Q1 FY2021-22	Q1 FY2020-21	% Change
Total Income	₹ 202.94 crs	₹ 206.12 crs	-1.54%
Net Profit	₹ 8.73 crs	₹ 15.16 crs	-42.41%
EPS	₹ 6.81	₹ 11.82	-42.39%

Commenting on the performance Mr. Sucheth Davuluri, Vice-Chairman and Chief Executive Officer of the Company said, "This quarter's results are a one off in terms of performance. We witnessed inventory destocking from certain customers amid the pandemic, combined with certain business complexities resulting in revenue fluctuations. We believe that profitable operations amid this volatile quarter reflects the underlying strength of our business which I am confident will be further apparent over time."

In addition, Mr. Saharsh Davuluri, Vice Chairman and Managing Director, Neuland Labs added "Our R&D and production teams have been working on several complex projects in CMS business which require high degree of complexity and specialised execution. We are confident that our continued customer engagement for quality delivery will enable the CMS business to deliver scale and returns in the medium as well as long term."

Shares of Neuland Laboratories Limited. was last trading in BSE at Rs. 1984.95 as compared to the previous close of Rs. 1986.2. The total number of shares traded during the day was 4456 in over 307 trades.

The stock hit an intraday high of Rs. 2039 and intraday low of 1950. The net turnover during the day was Rs. 8832457.

Source : Equity Bulls

Keywords