Solara Active Pharma tanks 20%, hits 52-week low on weak Q3 results

Solara Active Pharma: Bharath R Sesha has tendered his resignation as managing director & chief executive officer and director (MD & CEO) of the company.

Shares of Solara Active Pharma Sciences were locked at 20 per cent lower circuit limit at Rs 775.05, also its 52-week low, on the BSE on Thursday after the company reported a consolidated net loss of Rs 140 crore in December quarter (Q3FY22), due to lower revenue. The pharmaceutical company had posted a profit of Rs 65.78 crore in the year-ago quarter (Q3FY21).

The stock has corrected 58 per cent from its 52-week high level of Rs 1,859.30 touched on May 19, 2021. Till 09:33 am, around 55,000 shares changed had hands and there were pending sell orders for