Net profit of Sanofi India rose 4.98% to Rs 132.90 crore in the quarter ended September 2020 as against Rs 126.60 crore during the previous quarter ended September 2019. Sales declined 11.87% to Rs 686.60 crore in the quarter ended September 2020 as against Rs 779.10 crore during the previous quarter ended September 2019.

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Profit before tax in Q2 FY21 stood at Rs 185.9 crore, up 40.1% from Rs 132.70 crore reported in Q2 FY20. Current tax expense jumped 61.4% year-on-year (YoY) to Rs 53.60 crore during the quarter.

For the quarter ended 30 September 2020, the company has reported a drop in sales by 11% compared to corresponding quarter in 2019. The financial results for the quarter ended 30 September 2020 are not comparable with that of corresponding quarter in 2019 and previous quarters of 2020 due to completion of slump sale transaction on 29 May 2020, which resulted in transfer of Ankleshwar manufacturing facility and few products to Zentiva Private Limited. Some therapy areas were impacted negatively due to the COVID-19 restrictions. The impact assessment of COVID-19 is a continuing process given the uncertainties associated with its nature and duration. The company will continue to monitor any material changes to future economic conditions, Sanofi said in its notes to accounts.

Sanofi India manufactures pharmaceuticals and chemicals. The company has portfolio of vaccines, major biological products, generics medicines, consumer healthcare, animal healthcare, and has a presence in both traditional and emerging markets.

The scrip rose 0.79% to Rs 8450. It traded in the range of 8310 and 8450 so far during the day.

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Sanofi India will hold a meeting of the Board of Directors of the Company on 27 October 2020.

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The Board of Sanofi India at its meeting held on 05 October 2020 has approved appointment of Vaibhav Karandikar as Chief Financial Officer and Key Managerial Personnel with effect from 6 October 2020.

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