Shasun Pharmaceuticals dropped 2.95% to Rs 259.80 at 15:25 IST on BSE after consolidated net profit slumped 53% to Rs 6.14 crore on 0.1% decline in revenues to Rs 325 crore in Q3 December 2014 over Q3 December 2013.
The company announced Q3 results after market hours yesterday, 5 February 2015.
Meanwhile, the BSE Sensex was down 156.15 points, or 0.54%, to 28,694.82.
On BSE, so far 34,986 shares were traded in the counter, compared with an average volume of 68,808 shares in the past one quarter.
The stock hit a high of Rs 265.95 and a low of Rs 254.55 so far during the day. The stock hit a record high of Rs 309.65 on 22 January 2015. The stock hit a 52-week low of Rs 67.70 on 25 March 2014.
The stock had underperformed the market over the past one month till 5 February 2015, falling 5.82% compared with 3.62% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 34.05% as against Sensex's 3.35% rise.
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The mid-cap pharma company has equity capital of Rs 12.02 crore. Face value per share is Rs 2.
Shasun Pharma's consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) dropped 10% to Rs 398.30 crore in Q3 December 2014 over Q3 December 2013. EBITDA margin fell to 12% in Q3 December 2014 from 13% in Q3 December 2013. Shasun Pharmaceuticals' Q3 consolidated results was impacted due to CRAMS UK business. CRAMS UK sales fell 33.54% to GBP 5.19 million in Q3 December 2014 over Q3 December 2013.
On the status of scheme of amalgamation with Strides Arcolab, company stated that no objection has been received from the stock exchanges for the scheme. Application has been filed with High Court of Madras and has received order to convene shareholders meeting to approve the scheme. The approval for the scheme from Competition Commission of India (CCI) and Foreign Investment Promotion Board (FIPB) are awaited.
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