For the quarter ended September 30, 2021(Q2 FY2022), the company's total income was Rs 404.92 crore, against Rs 403.68 crore in the corresponding quarter of the previous year (YoY) and Rs 411.48 crore in the previous quarter (QoQ).

For the quarter ended September 30, 2021(Q2 FY2022), the company's net profit was Rs 29.71 crore, against Rs 56.67 crore in the corresponding quarter of the previous year (YoY) and Rs 50.13 crore in the previous quarter (QoQ).

For the 6 Months ended September 30, 2021(Half Year Ended FY 2022), the company's total income was Rs 816.40 crore, against Rs 756.68 crore in the previous year (YoY) (Half Year Ended FY 2021).

The net profit was at Rs 79.84 crore for the 6 months ended September 30, 2021 (Half Year Ended FY 2022), compared to Rs 98.95 crore in the previous year (YoY) (Half Year Ended FY 2021).

Commenting on the performance, Bharath Sesha, the MD & CEO of the company, remarked “Solara's performance for the quarter was muted and reflected the transitionary headwinds that we faced in the Ibuprofen business. Drop in the end-market demand for pain/flu management products has impacted the Ibuprofen business segment, especially in regulated markets. Coupled with this, we faced volatility and cost pressures in raw material pricing and logistics costs. All these factors have had a bearing on our results for the quarter. The other pillars of Solara's long-term strategy are trending well. We have expanded margins and sales on other products, and our CRAMS business has had a record quarter. As the Ibuprofen demand situation remedies in the coming 2-3 quarters, we expect to be back on track to the long-term guidance on revenue and profitability.”

Remarking on the performance, Rajender Rao Juvvadi, the Vice Chairman & Executive Director of the company, remarked “While there was a situational impact of Ibuprofen on our quarterly performance, our actions on strategic areas of developing Non-IBU product portfolio, CRAMS business and new customer addition have yielded results. Our R&D velocity continues to improve, leading to the development of new products and market extensions filings. From our operational focus standpoint, the multi-product facility at Vizag is ready, giving us a significant headway in catering to increased future demand and cost efficiencies. We are also making good headway in implementing manufacturing improvement programs, leading to better utilization and cost savings. As we continue to navigate through the current situation and work towards accelerating all the levers of our strategy, we remain confident in delivering long-term value to our stakeholders.”