Strides Pharma Q3 Results: Shares of Strides Pharma Limited were seen jumping a strong 12 per cent after the December quarter results on Friday, January 30. The company’s US sales in the December quarter were $70 million, which is almost equal to $73 million in the same quarter last year. The company also reiterated its US business revenue outlook of $400 million by fiscal year 2028.
For the December quarter, Strides Pharma reported net profit at ₹202 crore, up from ₹88 crore in the same quarter last year. The company’s revenue in the December quarter stood at ₹1,194.6 crore, which is 3.6% higher than ₹1,153.6 crore in the same quarter last year.
Earnings before interest, tax, depreciation and amortization (EBITDA) for the quarter grew 12.2% year-on-year to ₹235.8 crore, while margins expanded 150 basis points to 19.7% from 18.2% last year.
Gross margin for the quarter increased 280 basis points from last year to 61.2%.
Growth Markets revenue increased 19% from last year to $16.6 million, primarily driven by the Africa business. For other regulated markets, Strides expects growth to be driven by expansion of product portfolio and new customer acquisitions. There will also be a steady increase in filings, which will help in medium-term prospects.
Badri Komandur, MD and CEO of Strides Pharma, said other regulated markets and growth markets contributed to the growth in the quarter. Strides has also appointed Peter Hardwick as CEO of its North America business.
stock move
After the earnings announcement, Strides Pharma shares are trading 12.01% higher at Rs 907.22 around 1.40 pm. The stock is up 37.49% in the last 12 months. Whereas in 1 week the stock has shown a rise of 13.72 percent while in 3 years the stock has given a return of 203.23 percent to its investors.
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