Shares of Zydus Wellness gained as much as 6% on Tuesday, November 3, in response to its September quarter result, which saw the company deliver a net profit, compared to a net loss during the same quarter last year.
Zydus Wellness reported a net profit of ₹5 crore during the quarter, compared to a loss of ₹53 crore last year. The base quarter had an exceptional loss of ₹16 crore, while the current quarter had an exceptional gain of ₹7 crore, which contributed to the company delivering a profit.
Even after adjusting for both the numbers, the net loss for Zydus Wellness narrowed significantly from last year.
Revenue for the quarter stood at ₹1,126.6 crore, a growth of 73.2% from the ₹650.5 crore figure it reported during the same quarter last year.
Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) during the quarter stood at ₹85.2 crore, which is nearly 4x higher than the ₹23.2 crore figure reported in the year-ago quarter.
EBITDA margin expanded by 400 basis points year-on-year to 7.6% from 3.6% last year.
Shares of Zydus Wellness are trading 7.6% higher after the results announcement at ₹519.7. The stock is now up 12% so far this year, but is still below its 52-week high of ₹611.85.
This story will be updated with more details.
Zydus Wellness Q2 Results: Stock jumps 8% after 73% revenue growth; Exceptional gain aids PAT