Strides Arcolab posts Q3 net profit of Rs 97.39 crore

NEW DELHI: Drug firm Strides Arcolab today reported a standalone net profit of Rs 97.39 crore for the third quarter ended December 31, 2014.

The company had posted a net profit of Rs 3,525.24 crore for the corresponding period of the previous fiscal, Strides Arcolab said in a filing to BSE.

In December 2013, the company had completed sale of its Agila Specialties Division to Mylan Inc for a total consideration of USD 1.75 billion. Standalone total income of the company stood at Rs 241.78 crore for the quarter under consideration. It was Rs 253.37 crore for the same period a year ago.

The company had a net gain of Rs 96.40 crore for the quarter ended December 31, 2014 on sale of long term investments, while it was Rs 3,265.52 crore in the quarter ended December 31, 2013, Strides Arcolab said.

Dividend income from non current investment in wholly owned subsidiaries which was nil for the third quarter of this fiscal stood at Rs 1,353.40 crore for the same period year ago, it added.

Shares of Strides Arcolab today closed at Rs 932.95 per scrip on BSE, up 0.09 per cent from their previous close.