Zydus Wellness gains after Norges Bank sells stake
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For FY23, the Glucon-D maker’s standalone net profit stood at ?66 crore, a 400 percent jump from the previous fiscal
Zydus wellness owns brands like Glucon D, Sugarfree and Nutralite.
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Zydus Wellness share was trading around a percent higher in the morning trade on June 30 after Norway’s Norges Bank, on behalf of its government pension fund, sold 5 lakh shares, or a 0.79 percent stake, in the Indian company at an average price of Rs 1,479 a share.
At 9.46 am, the stock was trading at Rs 1,490 on the National Stock Exchange, up 0.72 percent from the previous close.
Zydus Wellness develops, markets, and distributes health and wellness products in India. It owns brands like Glucon D, Sugarfree and Nutralite.
In the March quarter of FY23, the company posted a standalone net profit of Rs 29 crore in Q4FY23, up 123 percent from the year-ago quarter. Standalone revenues from operations stood at Rs 59 crore compared to Rs 60.43 crore in Q4FY23.
Earlier, the Glucon-D brand owner posted a standalone net profit of Rs 29 crore in Q4FY23, up 123 percent from the year-ago quarter. Standalone revenues from operations stood at Rs 59 crore compared to Rs 60.43 crore in Q4FY23.
On a consolidated basis, the company’s quarterly net profits stood at ?145 crore, up 9 percent year on year. Consolidated income for the quarter stood at Rs 713 crore, up 11 percent from Rs 640 crore in the same quarter of the previous year.
For FY23, the company’s standalone net profit stood at ?66 crore, a 400 percent jump from the previous fiscal.
Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions
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