TTK Healthcare recorded a net profit of ₹16 crore in the first quarter of the current fiscal year, compared to ₹601 crore in the same quarter of the previous fiscal year. However, it’s important to note that the results of these two periods are not directly comparable due to the inclusion of a one-time gain from the sale of a business unit in the previous year’s figures.
In the first quarter of FY22, the company sold its human pharma business to BSV Pharma for ₹805 crore, resulting in a gain of ₹776 crore from the sale. This one-time gain significantly impacted the net profit figures for that quarter.
Excluding the one-time gain, the company’s “profits from continued operations” saw a remarkable four-fold increase, amounting to ₹16 crore in the latest quarter, compared to ₹4 crore in the year-ago quarter. The total revenue from operations for the first quarter of FY24 grew by 5% YoY, reaching ₹202 crore, compared to ₹193 crore in the same quarter of the previous year.
TTK Healthcare operates across various business segments, including animal welfare products, consumer products (FMCG), medical devices, protective devices (male contraceptives), and foods business.
On Tuesday, shares of TTK Healthcare reached an intraday high of ₹1,271.95 on NSE before closing at ₹1,236.85.