Strides Pharma Science Q2 profit falls 46 pc to Rs 77 cr

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.

Strides Pharma Science on Thursday reported a 45.75 percent 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.   "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 percent from its previous close.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)