Strides Pharma Q1 Profit Surges to Rs 84 Crore - Business News
By Rediff Money Desk, New Delhi Jul 29, 2024 17:51
Strides Pharma Science reported a strong Q1 FY24 performance with a profit after tax of Rs 84 crore, compared to a loss in the previous year. Revenue also grew significantly.
![Strides Pharma Q1 Profit Surges to Rs 84 Crore - Business News](https://im.rediff.com/money/2020/nov/15drug.jpg)
New Delhi, Jul 29 (PTI) Strides Pharma Science on Monday said its profit after tax from continuing operations stood at Rs 84 crore for the first quarter ended June 30.
The drug firm had reported a loss of Rs 29.5 crore in the April-June period of the last fiscal.
Its revenue stood at Rs 1,087 crore in the period under review compared to Rs 932 crore in the year-ago quarter, Strides Pharma Science said in a statement.
"Our emphasis on profitability, efficiency and growth has led to a strong performance across markets, allowing us to deliver superior returns ahead of the projected timelines for our FY25 outlook," Strides Pharma Science Founder & Executive Chairperson Arun Kumar said.
The company is confident of sustaining the momentum with continuous improvement in the quality of business, he added.
"The company has increased its focus on digitisation, automation, and ESG for better compliance and business outcomes," Strides Pharma Science MD and Group CEO Badree Komandur said.
Shares of the company on Monday ended 1.15 per cent up at Rs 1,033.75 apiece on the BSE.
The drug firm had reported a loss of Rs 29.5 crore in the April-June period of the last fiscal.
Its revenue stood at Rs 1,087 crore in the period under review compared to Rs 932 crore in the year-ago quarter, Strides Pharma Science said in a statement.
"Our emphasis on profitability, efficiency and growth has led to a strong performance across markets, allowing us to deliver superior returns ahead of the projected timelines for our FY25 outlook," Strides Pharma Science Founder & Executive Chairperson Arun Kumar said.
The company is confident of sustaining the momentum with continuous improvement in the quality of business, he added.
"The company has increased its focus on digitisation, automation, and ESG for better compliance and business outcomes," Strides Pharma Science MD and Group CEO Badree Komandur said.
Shares of the company on Monday ended 1.15 per cent up at Rs 1,033.75 apiece on the BSE.
Source: PTI
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- GTL Infrastructure
- 3.00 ( -0.99)
- 156571997
- Vodafone Idea L
- 16.06 (+ 0.50)
- 58130850
- Khoobsurat
- 1.87 ( 0.00)
- 51842496
- Toyam Sports
- 3.93 (+ 4.80)
- 37849039
- AvanceTechnologies
- 0.94 ( -4.08)
- 33244499
MORE NEWS
![RBI Excludes...](https://im.rediff.com/80-80/money/2018/mar/28rs.jpg)
RBI Excludes 14-Year, 30-Year G-Secs from FAR...
Reserve Bank of India has excluded government securities (G-Secs) of 14-year and...
![Societe Generale...](https://im.rediff.com/80-80/money/2018/jun/25ultratech.jpg)
Societe Generale Sells India Cements Stake for...
Societe Generale has divested its 0.67% stake in India Cements for Rs 78 crore. The...
![West Bengal Aims...](https://im.rediff.com/80-80/money/2020/aug/27export.jpg)
West Bengal Aims to Double Exports by 2030
West Bengal government sets an ambitious target to double exports by 2030, focusing on...