Strides Pharma jumps after Q3 profit spurts

Strides Pharma Science surged 7.21% to Rs 479.10 after consolidated net profit jumped 230.81% to Rs 92.33 crore in Q3 December 2019 from Rs 27.91 crore in Q3 December 2018.

Revenue from operations in the December quarter stood at Rs 732.44 crore, up by 28.5% from Rs 569.89 crore in the same period last year.

Profit before tax (PBT) surged 274.4% to Rs 103.63 crore in Q3 December 2019 as compared to Rs 27.68 crore reported in Q3 December 2018. The result was announced during market hours today, 30 January 2020.

Current tax expenses fell 14.72% to Rs 8.11 crore in Q3 December 2019 from Rs 9.51 crore in Q3 December 2018.

Employee expenses jumped 42.98% to Rs 111.64 crore year-on-year (YoY). Interest cost surged 80.96% to Rs 39.63 during the period under review.

Arun Kumar, founder, remarked, "We are pleased to announce a strong financial performance in the Q3FY20. Our contrarian strategies continue to play out for the regulated markets, which are now delivering growth with industry-leading post R&D EBITDA margins. While we are clearly tracking ahead of our plans for the regulated markets, the emerging markets are still a few quarters behind from demonstrating an improved performance anticipated by the strategic actions undertaken by the company to improve its quality of business. I am also delighted to welcome Ananth on board as he takes over the helm of affairs. I am confident that under his leadership, Strides will continue to deliver a profitable growth translating to disruptive value for the stakeholders."

Strides Pharma Science operates as a pharmaceutical company.

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