Strides Pharma Science posts consolidated net loss of Rs 149 crore in Q2
New Delhi: Strides Pharma Science has reported a consolidated net loss of Rs 149 crore for the second quarter ended September 30, 2023.
The drug firm had reported a net profit of Rs 19 crore for the year-ago period.
Total income, however, rose to Rs 1,035 crore in the second quarter as compared with Rs 920 crore in the year-ago period, Strides Pharma said in a regulatory filing.
"The significant loss for the current quarter and half year ended September 30 has been on account of continuing operating losses, finance costs and others," the drug firm said.
Read also: Strides to sell manufacturing facility in Singapore for Rs 125 crore
Strides is a global pharmaceutical company headquartered in Bengaluru, India. The Company mainly operates in the regulated markets and has an “in Africa for Africa” strategy and an institutional business to service donorfunded 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). The Company focuses on “difficult to manufacture” products sold in over 100 countries.
