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Zydus Wellness results for third quarter show 10.5% growth in net sales; income up 9.8%
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Monday, 18 February, 2019, 12 : 00 PM [IST]
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Our Bureau, Mumbai
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Zydus Wellness Ltd, announced results for the third quarter ended December 31, 2018. The company reported a 10.5% growth in net sales and consolidated income from operations of Rs 1,454 million, up by 9.8%.
The reported profit after tax stood at Rs 396.9 million. The adjusted EBIDTA (after excluding one off income related to central capital subsidy) was up by 13% y-o-y to Rs 375.5 million. Recently, the company had announced the successful completion of the acquisition of Heinz India Pvt. Ltd (“Heinz India”), the subsidiary of Kraft Heinz.
As per MAT December 2018 report of Nielsen, Sugar Free maintained its number one position with a market share of 93.9%. During the quarter, the company launched Sugarlite, a pioneer in its category which is from the company’s research pipeline. Sugarlite is 100% natural blended sugar that has 50% less calories than normal sugar.
Nutralite witnessed growth in volumes during the quarter, largely led by the institutional segment. During the quarter, a marketing campaign focussed on kids was initiated for Mayo through the endorsement of the cartoon character ‘Chota Bheem.’
With the new iconic brands like Complan, Nycil and Glucon D enriching its product portfolio, the company is looking at further consolidating its position as a leading player in the wellness domain. The company continued to expand its presence in the international markets during the quarter with the export of products in new markets like the UAE, Bahrain, Qatar and Oman.
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