Strides Pharma reports Q4 profit after tax at Rs 43.81 crore

Moving into the new financial year, Strides Pharma Science's emerging market and institutional business will get the highest attention and priority.

New Delhi: Drug firm Strides Pharma Science on Friday reported a consolidated profit after tax of Rs 43.81 crore from operations for the March 2019 quarter.

The company had posted a loss of Rs3.39 crore in the year-ago period, the company said in a BSE filing.

Consolidated revenue stood at Rs839.70 crore for the quarter under review as against Rs 669.89 crore for the same period a year ago.

For 2018-19, the company posted a profit after tax of Rs 58.93 crore compared to Rs 74.27 crore in 2017-18.

Also Read: Non-compliance of norms: USFDA recommends action against Strides Pharma Puducherry facility

The company’s consolidated revenue from operations stood at Rs3,011.68 crore for 2018-19, against Rs2,845.12 crore in the year-ago period.

“Starting the year with several challenges, we are satisfied with our FY19 exit quarter performance as most of the strategic outcomes have met our expectations,” Strides Pharma Science founder and group CEO Arun Kumar said.

Moving into the new financial year, the company’s emerging market and institutional business will get the highest attention and priority, he added.

The company said its board has proposed a final dividend of Rs3 per equity share of face value of Rs10 each.

Also Read: Strides Pharma gets USFDA approval for Oral Dosage facility in Singapore