Indoco announces Q4FY20 financial results; revenues stand at Rs 263 Crores

Indoco Remedies recorded revenues of Rs 263 crores during the Fourth quarter of FY 2019-20, as against Rs 245 crores, same quarter last year. EBIDTA to net sales for the quarter is 12.7 per cent at Rs 33.3 crores, compared to 11.7 per cent at Rs 28.5 crores, same quarter last year. The company recorded a net profit of Rs 5.4 crores, as against Rs 11.6 crores, same quarter last year.

For the year, the revenues are Rs 1079 crores as against Rs 941 crores, last year. EBIDTA to net sales for the year is 11.4 per cent at Rs 123.3 crores, compared to 8.1 per cent at Rs 76.7 crores, last year. The net profit for the year is Rs 24.2 crores, as against loss of Rs 2.8 crores, last year.

The Domestic formulation business grew by 10.3 per cent for the quarter and by 13.2 per cent for the year. The International Formulation business achieved a growth of 12.5 per cent for the quarter and 26.9 per cent growth, for the year.

Commenting on the 4th quarter results, Aditi Panandikar, Managing Director, Indoco Remedies, said, “The Company’s Domestic and International Sales for the quarter got impacted due to supply chain issues and the ban on Paracetamol exports in the month of March’20 due to Covid-19. However, we have adapted to the new normal and are trying to minimize the impact of the pandemic”.