Strides Arcolabs, Bangalore-based exporter of branded generic pharmaceutical products impacted by appreciating rupee and low research and development (R&D) revenues, has posted Rs 9 crore loss in the third quarter (Q3) of the calendar 2007 as against net profit of Rs 11.5 crore in same period of the previous year.The company's revenues were higher by 19% in the Q3 of 2007 at Rs 218 crore compared to Rs 183 crore in the corresponding period last year.For the first nine months of 2007, the company's profit was down 65.28% at Rs 9 crore as against 26 crore in the corresponding period last year. But sales were up 16% at Rs 568 crore compared to Rs 490 crore in the same period last year.Commenting on the performance, Arun Kumar, vice chairman & managing director, Strides Arcolab, said "Our Q3 results while showing improved revenues, the EBITDA dropped due to appreciating rupee and lower than normal R&D revenues has badly hurt our operations.""While the key business grew, acquired business are continuing to stabilise and is expected to deliver results in the coming years, while the US operations continue to disappoint us," he added.
