Financial Results (Q2 FY2022) - QoQ Comparison

Strides Pharma Science has reported a total income of Rs. 743.683 crore during the period ended September 30, 2021, as compared to Rs. 701.898 crore during the period ended June 30, 2021.

It incurred a loss of Rs. -162.559 crore for the period ended September 30, 2021, as against a loss of Rs. -205.2 crore for the period ended June 30, 2021.

Financial Results (Q2 FY2022) - YoY Comparison

The company has reported a total income of Rs. 743.683 crore during the period ended September 30, 2021, as compared to Rs.806.429 crores during the period ended September 30, 2020.

The company incurred a loss of Rs. -162.559 crore for the period ended September 30, 2021, as against a net profit of Rs.80.945 crore for the period ended September 30, 2020.

Financial Results (Half Year Ended FY2022) - YoY Comparison

The company has reported a total income of Rs.1445.581 crore during the 6 months ended September 30, 2021, as compared to Rs.1600.531 crore during the 6 months ended September 30, 2020.

The company has incurred a loss of Rs.-367.759 crore for the 6 months ended September 30, 2021, as against a net profit of Rs.184.509 crore for the 6 months ended September 30, 2020.

Commenting on the performance, Dr R Ananthanarayanan, Managing Director & CEO, remarked, “We have reported an operational breakeven in Q2FY22 enabled by a bounce back in other regulated markets, growing 27% QoQ. The performance in other regulated markets was driven by improving demand scenario and resumption of our supplies to partners during the quarter post the Covid related manufacturing disruptions in Q1. Emerging markets continues to track well delivering growth both in Africa and Institutional business. We continue to face headwinds in our US business. While we have been able to retain volume share on our key products, we continued to witness price challenges in our portfolio during the quarter, magnified by concentration towards acute products. We have completed the strategic acquisition of Chestnut Ridge site in the US along with a portfolio of approved products which will enable us to accelerate new product launches. While there are near term headwinds, we remain optimistic on the US business in the long run. We will start witnessing improvement in our US business starting Q3FY22 and will continue the growth momentum there on. Given the volatile dynamics we believe we will only be able to achieve our current year guided outlook for US in FY23 A muted sales performance accompanied with a drop in gross margins and relatively higher operating costs has led to a negative operating leverage in H1. While cost measures have been initiated to improve operating leverage, the shift will be visible in the coming quarters.”