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Strides Pharma Science Ltd Q2FY21 consolidated net profit lower at Rs. 80.94 crore
Posted On : 2020-10-29 21:24:06( TIMEZONE : IST )
Strides Pharma Science Ltd has reported financial results for the period ended September 30, 2020.
Financial Results (Q2 FY20-21) - QoQ Comparison
The company has reported total income of Rs.806.42 crores during the period ended September 30, 2020 as compared to Rs.794.10 crores during the period ended June 30, 2020.
The company has posted net profit / (loss) of Rs.80.94 crores for the period ended September 30, 2020 as against net profit / (loss) of Rs.103.56 crores for the period ended June 30, 2020.
The company has reported EPS of Rs.9.03 for the period ended September 30, 2020 as compared to Rs.11.56 for the period ended June 30, 2020.
| Financials | Q2 FY20-21 | Q1 FY20-21 | % Change |
| Total Income | ₹ 806.42 crs | ₹ 794.10 crs |  1.55% |
| Net Profit | ₹ 80.94 crs | ₹ 103.56 crs |  -21.84% |
| EPS | ₹ 9.03 | ₹ 11.56 | -21.89% |
Financial Results (Q2 FY20-21) - YoY Comparison
The company has reported total income of Rs.806.42 crores during the period ended September 30, 2020 as compared to Rs.728.07 crores during the period ended September 30, 2019.
The company has posted net profit / (loss) of Rs.80.94 crores for the period ended September 30, 2020 as against net profit / (loss) of Rs.142.71 crores for the period ended September 30, 2019.
The company has reported EPS of Rs.9.03 for the period ended September 30, 2020 as compared to Rs.15.94 for the period ended September 30, 2019.
| Financials | Q2 FY20-21 | Q2 FY19-20 | % Change |
| Total Income | ₹ 806.42 crs | ₹ 728.07 crs | 10.76% |
| Net Profit | ₹ 80.94 crs | ₹ 142.71 crs | -43.28% |
| EPS | ₹ 9.03 | ₹ 15.94 | -43.35% |
Financial Results (6 months ended FY 20-21) - YoY Comparison
The company has reported total income of Rs.1600.53 crores during the 6 months period ended September 30, 2020 as compared to Rs.1424.13 crores during the 6 months period ended September 30, 2019.
The company has posted net profit / (loss) of Rs.184.50 crores for the 6 months period ended September 30, 2020 as against net profit / (loss) of Rs.146.42 crores for the 6 months period ended September 30, 2019.
The company has reported EPS of Rs.20.58 for the 6 months period ended September 30, 2020 as compared to Rs.16.35 for the 6 months period ended September 30, 2019.
| Financials | Half-Year Ended FY20-21 | Half-Year Ended FY19-20 | % Change |
| Total Income | ₹ 1600.53 crs | ₹ 1424.13 crs | 12.39% |
| Net Profit | ₹ 184.50 crs | ₹ 146.42 crs | 26.01% |
| EPS | ₹ 20.58 | ₹16.35 | 25.87% |
Commenting on the performance, Dr R Ananthanarayanan, Managing Director & CEO, remarked, "Q2 FY21 was marked by headwinds from COVID-19 that impacted manufacturing and supply of products from our India sites due to intermittent shutdowns. We faced continued challenges in the market due to reduced footfalls in the market, lower elective surgeries and lower prescription rates.
We continue to remain proud of our global workforce for their continued commitment and exemplary efforts to curtail the impact during the current crisis period. We continue to pursue a "People First approach" and the well being of our employees remains our top priority.
Despite these challenges, Strides has delivered a steady Q2FY21 performance that highlights the resilience of our diversified business model. Revenues in Q2FY21 at ₹7,971m were up 11% YoY led by continued business momentum. Our US frontend continues to see sequential growth, up 8% QoQ driven by market share gains in key products.
While we have witnessed slowdown during the current quarter in the other regulated markets, the long term outlook for these markets continues to be robust. Our reset strategy in emerging markets is playing out well and we continue to see green shoots in that business.
We prioritized operations during the quarter and ensured we met customer commitments and maintain healthy gross margins and EBITDA margins in a constrained environment.
Our manufacturing plants have since returned to normalcy while maintaining necessary health guidelines. We are monitoring the evolving business dynamics closely and as we look forward to the second half of FY21, we continue to believe in our growth momentum across markets."
Shares of Strides Pharma Science Ltd was last trading in BSE at Rs.672.5 as compared to the previous close of Rs. 749.2. The total number of shares traded during the day was 129917 in over 8433 trades.
The stock hit an intraday high of Rs. 747.95 and intraday low of 645.65. The net turnover during the day was Rs. 90722521.
