Strides Pharma's revenue drops 8% to Rs 736 crore in Sept quarter

A muted sales performance accompanied with a drop in gross margins and relatively higher operating costs has led to a negative operating leverage in the first half of FY22

Strides Pharma saw its revenue for the September quarter drop 8 per cent year-on-year to Rs 736 crore as Covid-led manufacturing disruptions and pricing pressures on acute drugs in the US hurt sales. The pharma company registered a consolidated net loss of Rs 176 crore in Q2 of FY22 as compared to net profit of Rs 56.3 crore in the year ao period.

Dr R Ananthanarayanan, managing Director and CEO of Strides Pharma, said, “We have  reported an operational breakeven in Q2FY22 enabled by a bounce back in other regulated markets, growing  27 percent QoQ.”

“While we have been able