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Last Updated : Jan 30, 2020 11:01 AM IST | Source: Moneycontrol.com

Strides Pharma share price up 7% after consolidated profit surges to Rs 101 crore

Revenue was up 28 percent at Rs 735.3 crore versus Rs 573.8 crore, YoY while EBITDA jumped 184 percent to Rs 185.1 crore.

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Strides Pharma Science share price spiked more than 7 percent after the company posted strong set of numbers for the quarter ended December 2019, with the profit rising 358 percent on year-on-year basis.

Its consolidated adjusted profit was Rs 101.7 crore against Rs 22.2 crore in the same period last year.

The company’s revenue was up 28 percent at Rs 735.3 crore versus Rs 573.8 crore, YoY. Earnings before interest, tax, depreciation and amortisation (EBITDA) were up 184 percent at Rs 185.1 crore against Rs 65 crore, while margin was up at 25.2 percent against 11.3 percent, YoY.

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The company’s board allotted 12,638 equity shares of face value of Rs 10 each to the eligible employees, who exercised their stock options under Strides ESOP 2015 and Strides ESOP 2016.

The pharma company received a tentative nod from the US health regulator for triamcinolone acetonide ointment used in the treatment of various skin conditions.

In a regulatory filing, the company said, “Its step-down wholly-owned subsidiary, Strides Pharma Global Pte Ltd, Singapore, has received tentative approval for triamcinolone acetonide ointment USP, 0.05 per cent from the United States Food & Drug Administration (USFDA)”.

The stock price has risen over 36 percent in the last six months and was quoting at Rs 481.50, up Rs 34.60, or 7.74 percent. It has touched an intraday high of Rs 484.65 and an intraday low of Rs 442.20.

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First Published on Jan 30, 2020 11:01 am
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