Strides Arcolab is trading lower by 6% to Rs 928 after reporting a 10.3% year-on-year (yoy) drop in net profit at Rs 61 crore for the fourth quarter ended December 31, 2012 (Q4) due to lower operational income and forex gain. Analyst on an average had expected profit of Rs 76 crore.
Total income from operations in Q3 declined 8% to Rs 633 crore on yoy basis. The company reported a forex gain of Rs 10.19 crore as against Rs 50.57 crore in the same quarter previous year.
“Licensing income impacted by Rs 48 crore as the company bought back key product portfolios,” Strides Arcolab said in a statement.
Meanwhile, the pharmaceutical company said that it has entered into a definitive agreement for the sale of its specialties subsidiary, Agila Specialties Private Limited, to US-based Mylan Inc for a cash consideration of approximately Rs 8,610 crore and potential additional consideration of approximately Rs 1,345 crore.
Strides Arcolab expects almost 100% growth in EBITDA (earnings before interest, taxes, depreciation, and amortization), excluding specialties business, to Rs 200 crore in 2013 against Rs 103 crore in 2012 and a significant margin expansion on revenues of about Rs 1,000 crore.
The stock opened at Rs 1,115 and hit a low of Rs 881 on NSE. The counter has seen huge trading activity with a combined 3.47 million shares already changed hands till 1038 hours against an average sub one million shares that were traded daily in past two weeks.
Total income from operations in Q3 declined 8% to Rs 633 crore on yoy basis. The company reported a forex gain of Rs 10.19 crore as against Rs 50.57 crore in the same quarter previous year.
“Licensing income impacted by Rs 48 crore as the company bought back key product portfolios,” Strides Arcolab said in a statement.
Meanwhile, the pharmaceutical company said that it has entered into a definitive agreement for the sale of its specialties subsidiary, Agila Specialties Private Limited, to US-based Mylan Inc for a cash consideration of approximately Rs 8,610 crore and potential additional consideration of approximately Rs 1,345 crore.
Strides Arcolab expects almost 100% growth in EBITDA (earnings before interest, taxes, depreciation, and amortization), excluding specialties business, to Rs 200 crore in 2013 against Rs 103 crore in 2012 and a significant margin expansion on revenues of about Rs 1,000 crore.
The stock opened at Rs 1,115 and hit a low of Rs 881 on NSE. The counter has seen huge trading activity with a combined 3.47 million shares already changed hands till 1038 hours against an average sub one million shares that were traded daily in past two weeks.
