Sanofi India reported 23% fall in net profit to Rs 90.40 crore on a 4.5% fall in net sales to Rs 687.90 crore in Q4 December 2021 over Q4 December 2020.
Total expenditure rose 1.3% YoY to Rs 56.70 crore in the fourth quarter, primarily due to higher raw material costs (up 85.3% YoY) and higher other expenses (up 10.8% YoY).
Profit before tax in Q4 December 2021 stood at Rs 132.20 crore, down 22.3% YoY.
The full-year PAT increased by 98% to Rs 944.4 crore in 2021 from Rs 477.6 crore in 2020.
The total revenue for the year 2021 stood at Rs 2,956.6 crore with a year-on-year growth of 2%. The domestic business delivered strong growth of 13% (excluding the impact of the divestment transactions).
The company approved a final dividend of Rs 490 per share, which includes a special dividend of Rs 309 per share.
The divestment of the company's nutraceuticals' business in Q3 2021 and the sale of its' Ankleshwar Site in Q2 2020 have contributed to the lower operational cost. The profit before tax increased to Rs 1,257.6 crore in the year 2021 from Rs 677.2 crore in the year 2020, an increase of Rs 5,804 million, on account of profit from the sale of the nutraceuticals' business of Rs 489.2 crore in 2021 and an increase in operating profit. The return on capital employed was 34.6% (without exceptional items) as compared to 34% in the previous year.
Rajaram Narayanan, managing director, Sanofi India, We have continued to grow our business in key therapies, while transforming our operations in all areas of the company. Our solid 13% domestic market growth is testimony to their efforts.
Sanofi India is one of the entities through which Sanofi operates in India. It offers a wide array of medicines for therapy areas such as diabetes, cardiology, thrombosis, central nervous system and anti-histamines. The products manufactured by the company are distributed in India and exported to many developed as well as developing countries.
The scrip was currently trading 0.36% higher at Rs 7303.95 on the BSE.
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