This Mumbai based company is engaged in research, manufacture and marketing of generic pharmaceutical formulations. It had a very poor show for Q1FY17, with consolidated net profit slipping down by a big 97% (YoY) at Rs.1 crore, down from Rs.31 crore in previous Q1.

Net sales dropped 11% at Rs.187 crore and costs rose 11% led by a 25% jump in raw material prices and 111% rise in employee benefit costs. EBITDA obviously get affected – it was down 84% at Rs.8 crore and margins slipped big time from 24.7% to 4.4%. The company’s tax outgo for the quarter was at Rs.30 lakh v/s Rs.12 crore (YoY) but for this, it could have ended Q1 in the red.

42% of its revenue comes from USA and this segment showed a 83% jump; Europe and UK though showed a sharp drop of 43%. Australia and NZ grew 36% while Rest of the World fell 69%.