Strides Pharma Science jumped 12.48% to Rs 526.35 after the company's consolidated pharma net profit rose 51% to Rs 78.8 crore on 14% increase in revenues to Rs 784.7 crore in Q1 FY21 over Q1 FY20.
"Pharma PAT (profit after tax) for Q1 FY21 represents the generic formulations business of the company. It excludes exceptional items gain of Rs 44.5 crore and Biotech and CHC share of loss of Rs 20.1 crore," the company said in a statement.
EBITDA jumped 27% on a year-on-year (YoY) basis to Rs 157.8 crore in Q1 June 2020. EBITDA margin stood at 20.1% as on 30 June 2020 as against 18% as on 30 June 2019.
Revenue from US was at Rs 373.8 crore (up 8% YoY), revenue from other regulated markets was at Rs 260.6 crore (up 53% YoY), Institutional business revenue was at Rs 81 crore (down 8% YoY) and revenue from Africa was at Rs 69.3 crore (up 73% YoY) during the quarter.
The company's R&D spend in Q1 FY21 was Rs 24.7 crore. Total net debt was Rs 1,146.9 crore as on 30 June 2020 as against Rs 1,071.7 crore as on 30 June 2019.
With respect to FY21 outlook, Strides Pharma said that Q1 FY21 has been a strong comeback quarter for Strides despite Ranitidine withdrawal. The company believes given the current scenario, challenges around COVID 19 will continue to have an overhang on the industry including softness in demand led by lower prescription rates, decline in elective surgical procedures & lower footfall at pharmacies, unforeseen challenges in supply chain and increase in operating cost including higher logistics cost. Strides is cautiously optimistic on the overall business outlook for FY21, it added.
Strides Pharma Science is a global pharmaceutical company. It focuses on difficult to manufacture products that are sold in over 100 countries.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
