Strides Shasun Q2 net profit dives 87 percent to Rs 10.73 cr

New Delhi: Drug firm Strides Shasun reported an 87.44 percent decline in its consolidated net profit to Rs 10.73 crore for the second quarter ended September 30.

The company had posted a net profit of Rs 85.43 crore for the corresponding period of the previous fiscal, Strides Shasun said in a filing to BSE.

Consolidated revenue from operations, however, rose to Rs 995.60 crore for the quarter under consideration as against Rs 871.96 crore for the same period a year ago.

"We had successful new product launches in the US and strong store additions in Australia", Strides Shasun MD Shashank Sinha said.

Shares of Strides Shasun today closed at Rs 827.25 per scrip on BSE, down 1.70 percent from its previous close.