Elder Pharma falls 8% on weak April-June quarter

Moneycontrol Bureau

Elder Pharma lost 8 percent in intraday trade Friday as investors were disappointed on its weak first quarter results. The drug company’s sales was down around 50 percent to Rs 184 crore.
During the period, its profit too shrunk to Rs 84.3 lakh compared to Rs 18 crore on lower sales and a higher finance cost.
At 14:03 hrs Elder Pharmaceuticals was quoting at Rs 298.25, down Rs 20.80, or 6.52 percent on the BSE. It was trading with volumes of 40,521 shares, compared to its five day average of 80,289 shares, a decrease of 49.53 percent.
Currently, it is trading 37.08 percent below its 52-week high and 47.54 percent above its 52-week low.