Strides Pharma Sciences advanced 8.01% to Rs 372.05 after the company reported a consolidated net profit of Rs 141.91 crore in Q2 September 2019 as against a net loss of Rs 8.70 crore in Q2 September 2018.
The result was announced during market hours today, 25 October 2019.
Total income rose 37.51% to Rs 728.08 crore in Q2 September 2019 over Q2 September 2018.
Arun Kumar, Group CEO and managing director, remarked, "This quarter's financial results validate our reset strategy, with enhanced focus on growth and margin opportunities from regulated markets. These markets now contribute to >85% of our revenues, establishing the strength of our operating model built arounddiversified markets and carefully selected product portfolio. In spite of an underperforming emerging markets and continued R&D spend, our group EBITDA margins exceeded 20% for the first time in many quarters. Having said that, the challenges of institutional business & emerging markets persist, and we continue to evolve on our course-corrected strategy, which will deliver positive outcomes in the near term."
Meanwhile, the S&P BSE Sensex was down 253.09 points or 0.65% to 38,767.30.
On the BSE, 3.73 lakh shares were traded in the counter so far compared with average daily volumes of 1 lakh shares in the past two weeks. The stock hit a high of Rs 377.8 and a low of Rs 344 so far during the day.
Strides Pharma Science is a global pharmaceutical company headquartered in Bangalore, India.
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