Pharmaceutical firm Strides Shasun today reported a 56.55 per cent decline in its consolidated net profit at Rs 85.22 crore for the quarter ended December 2017, on account of higher expenses.
The company had posted a net profit of Rs 196.17 crore during the same period of the previous fiscal, Strides Shasun said in a BSE filing.
Expenses during the quarter stood at Rs 715.02 crore as against Rs 663.18 crore in the year-ago period.
Total income stood at Rs 764.71 crore during the quarter. It was Rs 751.96 crore in the same period of the previous fiscal.
"Our strategy to focus on regulated markets is delivering margin expansion and sustained earnings growth despite pricing challenges and drop in the institutional business," Strides Shasun Managing Director Shashank Sinha said.
The company's stock closed 3.54 per cent down at Rs 739 apiece on BSE.
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