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Strides Pharma posts consolidated net loss at Rs 82 crore in Q3

Ruchika SharmaWritten by Ruchika Sharma Published On 2023-01-26T14:00:52+05:30  |  Updated On 2023-01-26T14:01:15+05:30
Strides Pharma posts consolidated net loss at Rs 82 crore in Q3

New Delhi: Strides Pharma Science has reported a consolidated net loss of Rs 82 crore for the third quarter ended December 31, 2022.

The drug firm had reported a net loss of Rs 127 crore in the October-December quarter of previous fiscal.

Revenue from operations rose to Rs 865 crore for the quarter under review as against Rs 794 crore in the year-ago period, the company said in a regulatory filing.

On a standalone basis, the company reported a net profit of Rs 12 crore as against a net loss of Rs 18 crore in the year-ago period, it added.

The Bengaluru-based firm said the profit during the quarter was impacted by loss from JV and associates on account of inventory write off related to Covid portfolio.

"We continue to focus on a profitable outcome for the business and have, by design, let go of several low margin businesses," Strides Pharma Science Founder, Managing Director and Executive Chairperson Arun Kumar said.

Read also: Strides Pharma Science successfully concludes WHO inspection at Puducherry facility

Strides, a global pharmaceutical company headquartered in Bengaluru, India, is listed on the BSE and National Stock Exchange of India Limited (STAR). The Company mainly operates in the regulated markets and has an "in Africa for Africa" strategy and an institutional business to service donor-funded markets. The Company's global manufacturing sites are located in India (Chennai, Puducherry, and two locations in Bengaluru), Singapore, Italy (Milan), Kenya (Nairobi), and the United States (New York).

Read also: Strides Pharma Science Singapore arm secures USFDA okay for Potassium Chloride Oral Solution

Strides Pharma Science Strides Pharma Science news net loss Q3 result financial result 
Source : PTI
Ruchika Sharma
Ruchika Sharma

    M.Com

    Ruchika joined Medical Dialogue as an Desk Editor for the Business Section in 2019. She covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She has completed her B.Com from Delhi University and then pursued postgraduation in M.Com. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751

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