The company’s margin declined by 130 basis points to 21.6%, compared with 22.9% in the corresponding quarter last year. Margins during the quarter were the lowest since December 2023.
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Shares of Sanofi India Ltd. opened as much as 4% lower on Thursday, February 16, after the company reported a weak set of earnings for the December quarter.
For the quarter, the drugmaker reported a 32% year-on-year decline in net profit at ₹61.7 crore, compared with ₹91.3 crore in the same period last year.
Revenue for the quarter fell 18% to ₹420 crore from ₹515 crore a year ago. This marks the third consecutive quarter of declining revenue growth for the company.
Operating margins also contracted during the quarter. The company’s margin declined by 130 basis points to 21.6%, compared with 22.9% in the corresponding quarter last year.
Margins during the quarter were the lowest since December 2023.
