Revenue from operations during the quarter under review declined 1.9% to Rs 6.64 billion from Rs 6.77 billion in the corresponding quarter of previous fiscal.
Earnings before interest, taxes, depreciation, and amortisation (EBITDA) margin declined 400 bps at 15% from 19% in December 2017 quarter. EBITDA margin for the financial year 2017-18 (FY18) declined 650 bps to 15% from 22% in FY17.
The company said the US partnered business severally affected, witnessed intense pricing pressure and loss of market share during the quarter. Compressed institutional opportunity with low anti-malarial offtake & increased raw material prices. The aggressive investment in consumer healthcare (CHC) led to a loss of Rs 446 million, it added.
Weak performance in partnership portfolio and delay in approval for Oseltamivir in one of the worst flu seasons additionally impacted Q4FY18 and led to missing management’s outlook for US given in Q3FY18, Strides Shasun said.
At 02:19 pm; the stock was trading 22% lower at Rs 391 on the BSE, as compared 0.65% decline in the S&P BSE Sensex. The trading volumes on the counter jumped more than 10-fold with a combined 8.64 million shares changed hands on the BSE and NSE so far.