Strides Pharma records net loss of Rs 122 cr in Q3, revenue drops 5%

Company expects growth momentum in the US to pick up in coming quarters driven by new product launches

Strides Pharma has registered a net loss of Rs 122 crore in the December quarter (Q3), compared to a net profit of Rs 378 crore in the year-ago period. The Mumbai-based company’s revenue dropped 5 per cent to Rs 794 crore in Q3 on a year-on-year basis.

R Ananthanarayanan, Managing Director and CEO, said, “In Q3, while we have delivered an 8 per cent sequential revenue growth for our business, operating leverage continues to be subdued. Our US business has returned to growth after two quarters of decline, growing 13 per cent sequentially to $38 million in Q3”. 

Strides Pharma