Indoco Remedies added 1.77% to Rs 321.80 after the company's consolidated net profit jumped 169.2% to Rs 25.1 crore in Q3 FY21 from Rs 9.3 crore in Q3 FY20.
Net revenue during the quarter rose 17.6% year-on-year (YoY) to Rs 333.3 crore. EBIDTA in Q3 December 2020 improved 70.8% to Rs 60 crore from Rs 35.1 crore in Q3 December 2019. EBIDTA margin was at 18% as on 31 December 2020 as against 12.4% as on 31 December 2019.
Profit before tax in third quarter stood at Rs 37.63 crore, up by 239.9% from Rs 11.07 crore in the same period last year.
Current tax outgo rose 5.23 times YoY to Rs 11.71 crore in Q3 FY21 from Rs 2.24 crore in Q3 FY20.
Commenting on the third quarter FY21 results, Aditi Panandikar, managing director, Indoco Remedies, said, "While the revenue from International business has registered a robust growth of 73%, we are yet to see revival in the Domestic business. Uptrend in EBIDTA has continued in the 3rd quarter at 18% of net sales, which is highly encouraging.
Indoco Remedies is a fully integrated, research oriented pharma company with presence in 55 countries.
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