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Sequent Scientific slips 8% after tepid Q4 results

NEW DELHI: Shares of fell as much as 8 per cent during early trade on Thursday after the company posted subdued numbers in the quarter ended on March 31, 2021.

The pharma company reported a net profit of Rs 23.52 crore in the March 2021 quarter, 29 per cent higher than net profit of Rs 18.22 crore in the same quarter previous year. However, the net profit declined 38 per cent on a sequential basis, compared to Rs 37.98 crore in the September-December 2020 period.

Shares of Sequent Scientific tanked 8 per cent to Rs 288.80 on Thursday. However, the counter was trading at Rs 291.20 at 10 am. The BSE Sensex was trading flat at 52,505.38 at the same time. The counter had settled at Rs 312.65 on Wednesday.

The company’s revenue from the operations surged 20 per cent higher to Rs 363.2 crore in the March 2021 quarter, as against 302.4 crore the March 2020 quarter. On a sequential basis, the revenue was flat.

Sequent Scientific’s shares have rallied over 200 per cent in the last one year. It has surged over 72 per cent in the last six months.

For the full financial year 2020-21, the company reported a rise of 27.3 per cent in net profit to Rs 104.45, as against a net profit of Rs 82.04 crore in FY 2019-20. Revenue increased 12.7 per cent to Rs 1,339.98 crore during the period under review.

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