AstraZeneca Pharma drops as company skips dividend on poor financials

The announcement was made after market hours on Tuesday, 21 May 2013.

Meanwhile, the BSE Sensex was up 68.64 points, or 0.34%, to 20,180.25.

On BSE, 8,793 shares were traded in the counter as against an average daily volume of 37,714 shares in the past one quarter.

The stock hit a high of Rs 799.35 and a low of Rs 766.65 so far during the day. The stock had hit a 52-week high of Rs 2,019.90 on 29 May 2012. The stock had hit a 52-week low of Rs 595 on 26 March 2013.

The stock had outperformed the market over the past one month till 21 May 2013, rising 11.71% compared with the Sensex's 5.76% rise. The scrip, however, underperformed the market in past one quarter, sliding 28.63% as against Sensex's 4.07% rise.

The small-cap company has an equity capital of Rs 5 crore. Face value per share is Rs 2.

AstraZeneca Pharma India's board of directors at its meeting held on 21 May 2013, said it has not recommended any dividend on equity shares for the year ended 31 March 2013 in view of absence of profits for the year ended 31 March 2013 and to conserve resources for future growth. Earlier, the company had declared equity dividend for all the years since atleast 2000.

Astrazeneca Pharma India reported net loss of Rs 18.58 crore in Q4 March 2013 as against net loss of Rs 33.01 crore in Q4 March 2012. Net sales rose 3.4% to Rs 94.85 crore in Q4 March 2013 over Q4 March 2012.

AstraZeneca Pharma India is one of the world's leading pharmaceutical companies, with a broad range of medicines designed to fight disease in important areas of healthcare. AstraZeneca Pharma India is involved in both the manufacturing and marketing of medicines.

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