Strides Shasun tanks 25% on weak Q4 results

The stock tanked 25% to Rs 378, also its 52-week low on the BSE after the company reported a consolidated net loss of Rs 44 million in March 2018 quarter.

Shares of Strides Shasun have tanked 25% to Rs 378 per share, also their 52-week low on the BSE after the company reported a consolidated net loss of Rs 44 million in March 2018 quarter (Q4FY18). The pharmaceutical company reported its first quarterly loss since September 2014 quarter. It had posted a net profit of Rs 916 million in Q4FY17.

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