Consumer Products firm Zydus Wellness on Monday reported a 24.95 per cent decline in consolidated net profit at Rs 17.05 crore for the first quarter ended June 30, 2014-15.
The company had posted a net profit of Rs 22.72 crore for the corresponding quarter a year ago.
Zydus Wellness said in a filing to BSE that its net sales in Q1, 2014-15 declined 6.20 per cent to Rs 100.73 crore as against Rs 107.39 crore last year.
The tax expense in Q1 was Rs 1.99 crore, as against tax gain of Rs 3.31 crore in Q1, 2013-14.
"The tax expense of the corresponding quarter of the previous year includes one-time tax refund of Rs 5.83 crore and hence the tax expense of the current quarter and the corresponding quarter is not comparable," the company said.
Overall expenses of the company in the first quarter of this fiscal stood at Rs 87.48 crore, compared with Rs 91.49 crore in the year-ago period. The company manufactures products like Sugar Free, Nutralite and EverYuth.
Zydus Wellness stock closed at Rs 614.85, down 5.59 per cent, on the BSE.