Strides Pharma Science’s share price traded 5% higher at ₹682.55 at 10:10 AM on NSE. The company’s share price was placed under the Additional Surveillance Measure (ASM) in August 2024.
As per the guidelines of the stock exchanges, the company was classified under the Long-Term Stage 1 category of ASM due to certain risk factors and price volatility concerns.
Strides Pharma Science Ltd. reported a consolidated net profit of ₹93.7 crore for the quarter ended September 2024. A notable turnaround from a loss of ₹149.45 crore during the same period in the previous year.
Revenue for the quarter rose by 20.2%, reaching ₹1,201.11 crore, compared to the previous year.
The company’s US revenues hit a record high of $75 million, reflecting a 26.2% growth year-on-year.
Additionally, Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) surged by 54%, standing at ₹235.7 crore. Overall, total income for the period increased to ₹1,229.52 crore, showcasing a solid improvement compared to the same quarter last year.
Strides Pharma Science Ltd. is a global pharmaceutical company focused on the development, manufacturing, and distribution of generic pharmaceutical products. Established in India, the company has expanded its footprint internationally, with a presence in over 100 countries, including key markets such as the United States, Europe, and emerging markets. Strides Pharma manufactures a wide range of pharmaceutical products, including oral solid dosage forms, injectables, and other specialty medicines.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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