Neuland Laboratories Q3FY21 consolidated PAT rises to Rs 26.73 crore

Neuland Laboratories has reported financial results for the period ended December 31, 2020.

The company has reported total income of Rs.245.58 crores during the period ended December 31, 2020 as compared to Rs.241.99 crores during the period ended September 30, 2020.

It has posted net profit / (loss) of Rs.26.73 crores for the period ended December 31, 2020 as against net profit / (loss) of Rs.21.44 crores for the period ended September 30, 2020.

Commenting on the performance Sucheth Davuluri, Vice-Chairman and Chief Executive Officer, Neuland Laboratories, said, “We are pleased to announce another strong quarter of top line and bottom line performance. The revenue at Rs.245.6 crores was a 20 per cent improvement over the corresponding quarter of the last fiscal while the margins have showed an upward trajectory and closed at 19.0 per cent. This was driven by growth across the GDS and CMS verticals. We remain confident of our long-term growth aspirations as well as our margin resilience.”

In addition, Saharsh Davuluri, Vice Chairman and Managing Director, Neuland Labs, added, “We are pleased with the momentum shown by the CMS business while the GDS also continues to play an important part in the growth. The driver of this quarter’s CMS uptick has been the strong performance from the scaleup projects which have contributed to the revenues. Unit three has started commercial production and we are currently shipping out two API’s from this facility. We expect Unit three to be a major driver of our growth going forward.”