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Sequent Scientific Ltd Q1FY22 consolidated net profit at Rs. 87.30 lakhs
Posted On : 2021-08-11 00:12:55( TIMEZONE : IST )
Sequent Scientific 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.323.17 crores during the period ended June 30, 2021 as compared to Rs.363.19 crores during the period ended March 31, 2021.
The company has posted net profit / (loss) of Rs.0.873 crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.20.63 crores for the period ended March 31, 2021.
The company has reported EPS of Rs.0.04 for the period ended June 30, 2021 as compared to Rs.0.84 for the period ended March 31, 2021.
| Financials | Q1 FY2021-22 | Q4 FY20-21 | % Change |
| Total Income | ₹ 323.17 crs | ₹ 363.19 crs |  -11.02% |
| Net Profit | ₹ 0.873 crs | ₹ 20.63 crs | -95.77% |
| EPS | ₹ 0.04 | ₹ 0.84 | -95.24% |
Financial Results (Q1 FY 2021-22) - YoY Comparison
The company has reported total income of Rs.323.17 crores during the period ended June 30, 2021 as compared to Rs.296.80 crores during the period ended June 30, 2020.
The company has posted net profit / (loss) of Rs.0.873 crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.15.80 crores for the period ended June 30, 2020.
The company has reported EPS of Rs.0.04 for the period ended June 30, 2021 as compared to Rs.0.93 for the period ended June 30, 2020.
| Financials | Q1 FY2021-22 | Q1 FY2020-21 | % Change |
| Total Income | ₹ 323.17 crs | ₹ 296.80 crs |  8.88% |
| Net Profit | ₹ 0.873 crs | ₹ 15.80 crs | -94.47% |
| EPS | ₹ 0.04 | ₹ 0.93 | -95.7% |
Commenting on the Company's performance, Manish Gupta, Managing Director stated "The quarter gone by has indeed been the most challenging one, both from demand and execution perspective. We are pleased to report an over 15% growth in our formulations business even as our API business reported a de-growth after many quarters of consistent growth. We reported revenues of ₹ 320 Crores for the quarter, reflecting a growth of 8.9% YOY on constant currency basis while the EBITDA stood at ₹ 35.8 Crores excluding ESOP costs.
On the business side, we are pleased with continuing strong growth in the key markets of India & LATAM, and we expect improved performance in Europe and Turkey going forward. We shall continue to invest both in expanding our footprints as well as strengthening our presence in existing markets.
We expect strong recovery in our API business in the second half. Our strategy for API business continues to play out well as we continue to improve the quality of business with ever increasing contribution of regulated markets business, which now stands at 72% vs. 66% last year.
Despite a slower start to the year, we stay confident and on track of achieving our financial and strategic objectives for the year."
Shares of Sequent Scientific Limited was last trading in BSE at Rs. 278.7 as compared to the previous close of Rs. 287.85. The total number of shares traded during the day was 114051 in over 1953 trades.
The stock hit an intraday high of Rs. 292 and intraday low of 276.55. The net turnover during the day was Rs. 32269842.
