Strides Pharma Science posts Q2 net loss of Rs 8.70 cr

Drug firm Strides Pharma Science Wednesday reported a consolidated net loss of Rs 8.70 crore for the quarter ended September 30, 2018.

The company had posted a net profit of Rs 11.73 crore for the corresponding period of the previous fiscal, Strides Pharma Science said in a filing to BSE.

Consolidated revenue from operations stood at Rs 732.63 crore for the quarter under consideration. It was Rs 768.66 crore for the same period a year ago.

Commenting on the results, Strides Pharma Science Founder and Group CEO Arun Kumar said, "We have achieved significant progress on our reset strategy both in terms of course-correction and execution over the last two quarters."

With all growth pivots in place, the company is confident of scaling up its diversified B2C business and continue the growth momentum across key markets, he added.

Shares of Strides Pharma Science were trading at Rs 412.85 per scrip on BSE, down 0.22 per cent from their previous close.

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