Strides Pharma Science Q2 profit falls 46 percent to Rs 77 crore
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...
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.
Disclaimer: This site is primarily intended for healthcare professionals. Any content/information on this website does not replace the advice of medical and/or health professionals and should not be construed as medical/diagnostic advice/endorsement/treatment or prescription. Use of this site is subject to our terms of use, privacy policy, advertisement policy. © 2024 Minerva Medical Treatment Pvt Ltd