The firm had posted a internet revenue of Rs 44.70 crore for the corresponding interval of the earlier monetary yr, Strides Pharma Science stated in a submitting to the BSE.
The firm’s consolidated income from operations stood at Rs 618.64 crore for the quarter into account. It was Rs 616.18 crore for a similar interval yr in the past, it added.
For the outcomes of the quarter, the corporate has proven a internet lack of Rs 170 crore as distinctive merchandise, which is especially on account of Ranitidine withdrawal from the US market.
For the fiscal yr ended March this yr, the corporate posted a internet revenue of Rs 30.58 crore. It was Rs 329.87 crore for the earlier fiscal yr, the submitting stated.
Revenue from operations of the corporate for the fiscal yr ended March 2020 stood at Rs 2,751.97 crore. It was Rs 2,178.37 crore for the yr in the past fiscal, it added.
“The financial year 2020 has met all strategic and financial outcomes for Strides in spite of the unexpected USFDA direction to withdraw Ranitidine on the last day of FY20,” Strides Pharma Science CEO & MD R Ananthanarayanan stated.
Strides strongly believes that its companies will preserve traction and would develop considerably to culminate right into a wholesome monetary end result in 2020-21, he added.
The firm’s board of administrators proposed a last dividend of Rs 2 per share, the submitting stated.
Shares of Strides Pharma Science closed at Rs 421.05 per scrip on the BSE, up 1.54 per cent from its earlier shut.
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