The company's revenues was up 49.15 per cent to Rs 269.10 crore for the Q2 of 2008 as against Rs 180.42 crore registered during corresponding quarter of last year. The operating loss was at Rs 42.58 crore in Q2 as against profit of Rs 10.46 crore same period last year.
Commenting on the performance, Arun Kumar, vice chairman and managing director, Strides Arcolab, said "By any measure, Q2 2008 was an outstanding operating quarter for Strides Arcolab. The achievements in the quarter go beyond the bottom line, as much has been done to set the foundations for future growth. The net loss of Rs 48 crore has been impacted by exceptional factors relating to restatement of FCCBs and ECB borrowings and provisioning of mark-to-market (MTM) loss to the extent of Rs 28 crore."
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