Strides Shasun Q2 profit dips 87% to Rs10.73 crore
New Delhi: Drug firm Strides Shasun Ltd on Tuesday reported a 87.44% decline in its consolidated net profit to Rs10.73 crore for the second quarter ended 30 September.
The company had posted a net profit of Rs85.43 crore for the corresponding period of the previous fiscal, Strides Shasun said in a filing to the BSE. Consolidated revenue from operations, however, rose to Rs995.60 crore for the quarter under consideration as against Rs871.96 crore for the same period a year ago.
“We had successful new product launches in the US and strong store additions in Australia”, Strides Shasun MD Shashank Sinha said. The company expects continued growth driven by its focus on executing new product launches as approval momentum has picked up and operating leverage is kicking in, he added.
Shares of Strides Shasun on Tuesday closed at Rs827.25 per scrip on the BSE, down 1.70% from its previous close.
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