Strides Pharma Science Q3 profit at Rs 296.43 cr
Drug firm Strides Pharma Science Tuesday reported a consolidated net profit of Rs 296.43 crore for the quarter ended on December 31, 2018. The company had posted a net profit of Rs 88.11 crore for the corresponding period of the previous fiscal, Strides Pharma Science said in a filing to BSE.
Consolidated revenue from operations of the company stood at Rs 794.50 crore for the quarter under consideration against Rs 748.79 crore for the same period a year ago. While the profit from the continuing operations was Rs 24.61 crore for the third quarter this fiscal, it was Rs 47.34 crore for the same period year ago.
The profit from the discontinued operations for the quarter ended December 31, 2018 stood at Rs 271.82 crore. It was Rs 40.77 crore for the corresponding period of the previous fiscal. Commenting on the results, Strides Pharma Science Founder and Group CEO Arun Kumar said: "The progress for Strides has fairly been on track and we are particularly satisfied with the outcomes of our course-corrected strategy in the US market."
Shares of Strides Pharma Science closed at Rs 492.20 on BSE, down 2.56 per cent from the previous close.
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