Strides Pharma Science Q3 net declines 69 pc to Rs 92 cr

New Delhi, Jan 30 () Drug firm Strides Pharma Science on Thursday posted 68.8 per cent decline in consolidated profit at Rs 92.33 crore for the quarter ended December 31, 2019.

The company had posted consolidated profit of Rs 296.43 crore in the year-ago period, Strides Pharma Science said in a regulatory filing.

However, the consolidated income of the company increased to Rs 744.66 crore in the October-December period, as against Rs 579.54 crore a year ago.

"Our contrarian strategies continue to play out for the regulated markets, which are now delivering growth with industry-leading post research and development (R&D) EBITDA margins," Strides Pharma Science founder Arun Kumar said.

Earnings before interest, tax, depreciation and amortization (EBITDA) is a measure of a company's operating performance.

Kumar further noted that "while we are clearly tracking ahead of our plans for the regulated markets, the emerging markets are still a few quarters behind from demonstrating an improved performance anticipated by the strategic actions undertaken by the company to improve its quality of business".

Shares of Strides Pharma Science were trading at Rs 480.70 a piece on BSE, up 7.56 per cent from the previous close. SID DRR