Shares of Strides Pharma Ltd. tumbled the most in more than four months after the drugmaker reported a wider-than-expected loss in the quarter ended September.
The company reported a net loss of Rs 162.6 crore in July-September against a loss of Rs 205.2 crore in the preceding three months, according to an exchange filing. A consensus of analyst estimates compiled by Bloomberg had pegged the after-tax loss at Rs 57.1 crore.
Year-on-year, the company reported net profit of Rs 80.9 crore.
Highlights (QoQ)
Revenue stood at Rs 721.5 crore, up 5%, against the estimated Rs 772.9 crore.
The company reported operating losses of Rs 1.1 crore against a Rs 55.4-crore operating loss in the preceding quarter. The Bloomberg consensus estimated operating profit of Rs 38.8 crore.
Shares of Strides Pharma shed 8.68% in intraday trade. Of the seven analysts tracking the company, six maintained a 'buy' and one suggests a 'hold', according to Bloomberg data. The overall 12-month consensus price target implies an upside of 61.8%.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
