Strides Pharma posts threefold rise in profit-before-tax at Rs 103.6 crore

Pharmaceutical major Strides Pharma Science posted a threefold rise in profit-before-tax (PBT) at Rs 103.6 crore for the third quarter ended December 31. It had posted a pre-tax profit of Rs 27.6 crore in the corresponding period of the previous fiscal.

Led by stellar growth in regulated markets, the Bengaluru-headquartered company posted a 358 per cent rise in net profit at 101 crore as compared to the corresponding quarter of the previous financial year.

“Our contrarian strategies continue to play out for the regulated markets, which are now delivering growth with industry leading post R&D EBITDA margins,” said Arun Kumar, founder of the company.

US business clocked $66 million quarterly revenues with 90 per cent revenues from the own front end. However, the performance in the emerging market registering a decline of 62 per cent YoY on account of strategic realignment initiated in the last financial year.

The company posted a 28 per cent growth in revenue at Rs 735 crore as compared with Q3FY19. Its EBITDA margins stood at 25.2 per cent for the period.