The company has reported a total income of Rs.411.48 crores during the period ended June 30, 2021, as compared to Rs.453.99 crores during the period ended March 31, 2021.

The company has posted net profit / (loss) of Rs.50.13 crores for the period ended June 30, 2021, as against net profit / (loss) of Rs.56.65 crores for the period ended March 31, 2021.

The company has reported EPS of Rs.13.88 for the period ended June 30, 2021, as compared to Rs.15.24 for the period ended March 31, 2021.

YoY comparison

The company has reported a total income of Rs.411.48 crores during the period ended June 30, 2021, as compared to Rs.353 crores during the period ended June 30, 2020.

The company has posted net profit / (loss) of Rs.50.13 crores for the period ended June 30, 2021, as against net profit / (loss) of Rs.42.28 crores for the period ended June 30, 2020.

The company has reported EPS of Rs.13.88 for the period ended June 30, 2021, as compared to Rs.14.74 for the period ended June 30, 2020.

Commenting on the performance, Bharath Sesha, the MD & CEO of the company, remarked “The second wave of Covid has had an impact on Solara. More than 275 employees tested positive for Covid during the quarter, leading to challenges in site manning and operations. In line with advisories issued by relevant authorities and our safety protocols, we took temporary shutdowns at the impacted locations. Solara continues to enjoy the advantage of having a committed and engaged workforce, and we have supported our employees through a host of humane measures for those impacted by the pandemic.”

“Our base business witnessed demand stress mainly on account of the pandemic, and we expect this trend will normalize over the next 3-6 months. The reduced demand, especially in the regulated markets, has been to a large extent mitigated via the growth in new products, new geographies, and our CRAMS business. Despite the significant challenges, Solara has delivered the highest ever Q1 performance on revenue, EBITDA, and PAT in its history," Sesha added.

The company stated that Aditya Puri, former MD of HDFC Bank and a senior advisor to a large PE fund, joined Solara Board as the Chairperson and will also head the nomination and Remuneration Committee of the Board.