Strides Pharma hits 52-week low, slumps 9% on weak Q2 results

The management said a muted sales performance accompanied with a drop in gross margins and relatively higher operating costs has led to a negative operating leverage in H1

Shares of Strides Pharma Science hit a 52-week low of Rs 503.25, as they slipped 9 per cent on the BSE in Wednesday’s intra-day trade after the company reported a consolidated net loss of Rs 84.7 crore in September quarter (Q2FY22), due to lower revenues. The pharmaceutical company had posted profit after tax of Rs 79.2 crore in a year ago quarter.

The company’s revenues during the quarter under review declined 8 per cent year on year to Rs 736 crore from Rs 797 crore in the corresponding quarter of previous fiscal. In Q2FY22, earnings before interest, tax, depreciation