 "Claris Lifesciences dips on disappointing Q4 results")
Claris Lifesciences has dipped nearly 7% to Rs 156 on the BSE in an otherwise firm market after the company reported 60% year on year (YoY) decline in consolidated net profit of Rs 4 crore for the quarter ended March 31, 2016 (Q4FY16). The pharmaceutical company posted a profit of Rs 13 crore in an year ago quarter.
Net income increased 6% at Rs 168 crore on YoY basis. The company said, the January to March quarter has traditionally been the leanest quarter.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) margin reduced to 21% in Q4FY16 from 24% in the previous year quarter due to expansion of management overheads and absorption of CL2 fixed overheads.
At 12:34 PM, the stock was down 6% at Rs 158 as compared to 1.4% gain in the S&P BSE Sensex. Around 84,000 shares changed hands so far against an average 64,000 shares that were traded daily in past two weeks on the BSE.
Net income increased 6% at Rs 168 crore on YoY basis. The company said, the January to March quarter has traditionally been the leanest quarter.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) margin reduced to 21% in Q4FY16 from 24% in the previous year quarter due to expansion of management overheads and absorption of CL2 fixed overheads.
At 12:34 PM, the stock was down 6% at Rs 158 as compared to 1.4% gain in the S&P BSE Sensex. Around 84,000 shares changed hands so far against an average 64,000 shares that were traded daily in past two weeks on the BSE.