Strides Arcolab Q2 net profit at Rs 2.15 crore

NEW DELHI: Drug firm Strides Arcolab today reported a net profit of Rs 2.15 crore for the quarter ended June 30, 2013.


The company had posted a net loss of Rs 19.90 crore for the corresponding quarter previous fiscal, Strides Arcolab said in a statement.

Net sales of the company however stood at Rs 150.83 crore for the quarter under consideration as against Rs 162.65 crore for the same period year ago.

Commenting on the results, Strides Arcolab Vice Chairman and Group CEO Arun Kumar said: "We are pleased with our performance which is in line with our guided EBITDA and Revenues."

With recent product approvals, the company expects to deliver a strong second half in the pharmaceutical business, he added.

The company currently has 46 filings with US Food and Drug Administration and has received WHO pre-qualification for Artemether and Lumifantrine (AL). It also expects 2-3 key approvals during the second half of 2013, Strides Arcolab said.

Shares of Strides Arcolab were today trading at Rs 712.85 per scrip in the after noon trade on BSE, down 2.87 per cent from its previous close.