Strides Pharma Science Q2 profit falls 46 percent to Rs 77 crore

Published On 2020-11-01 04:00 GMT   |   Update On 2020-11-01 04:01 GMT
Advertisement

New Delhi: Strides Pharma Science on Thursday reported 45.75 per cent decline in consolidated net profit at Rs 76.98 crore for the quarter ended September 30, 2020.

The company had posted a net profit of Rs 141.90 crore for the corresponding period of the previous fiscal, Strides Pharma said in a filing to BSE.

Total income stood at Rs 806.42 crore in the quarter under review. It was Rs 728.07 crore in the year-ago period, it added.

"Q2 FY21 was marked by headwinds from COVID-19 that impacted manufacturing and supply of products from our India sites due to intermittent shutdowns. We faced continued challenges in the market due to reduced footfalls in the market, lower elective surgeries and lower prescription rates," MD & CEO R Ananthanarayanan said.

Read also: Strides Pharma gets USFDA nod to Butalbital, Acetaminophen, Caffeine tablets to treat headache

"We are monitoring the evolving business dynamics closely and as we look forward to the second half of FY21, we continue to believe in our growth momentum across markets," he added.

Shares of Strides Pharma Science were trading at Rs 728.50 per scrip on BSE, down 2.76 per cent from its previous close.


Tags:    
Article Source : PTI

Disclaimer: This website is primarily for healthcare professionals. The content here does not replace medical advice and should not be used as medical, diagnostic, endorsement, treatment, or prescription advice. Medical science evolves rapidly, and we strive to keep our information current. If you find any discrepancies, please contact us at corrections@medicaldialogues.in. Read our Correction Policy here. Nothing here should be used as a substitute for medical advice, diagnosis, or treatment. We do not endorse any healthcare advice that contradicts a physician's guidance. Use of this site is subject to our Terms of Use, Privacy Policy, and Advertisement Policy. For more details, read our Full Disclaimer here.

NOTE: Join us in combating medical misinformation. If you encounter a questionable health, medical, or medical education claim, email us at factcheck@medicaldialogues.in for evaluation.

Our comments section is governed by our Comments Policy . By posting comments at Medical Dialogues you automatically agree with our Comments Policy , Terms And Conditions and Privacy Policy .

Similar News