Drug firm Strides Shasun today reported multi-fold jump in consolidated net profit to Rs 131.90 crore for the January-March quarter on account of lower expenses.
The company had posted a profit of Rs 4.43 crore during the same period of last fiscal mainly due to a Rs 19.08-crore loss from discontinued operations and higher expenses of about Rs 76 crore.
Commenting on the results, Strides Shasun Group CEO Shashank Sinha said: "Key products continue to gain market share driving growth in the base business. New product filing momentum picked up as we nearly doubled R&D investments.
For the fiscal ended March 31, the company reported a net profit of Rs 250.11 crore against Rs 118.14 crore in 2015-16 fiscal.
Total revenue for the fiscal stood at Rs 3,652 crore as against Rs 2,954.29 crore in the previous fiscal.
On the outlook, Sinha said: "A strong pipeline, compliant manufacturing base and growing market presence are the pillars of our future growth".
The company announced a dividend of Rs 4.50 per share for FY2016-17.
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