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Delay in new drug approvals dragged Strides Arcolab Ltd’s profits by 92.66 per cent to Rs 2.21 crore on a standalone basis for the third-quarter of this calendar year against Rs 30.11 crore recorded in the same period last year.
The company’s revenues for Q3 is up 6.92 per cent to Rs 208.94 crore against Rs 195.40 crore in the same quarter last year, while EPS stood at 38 paise against Rs 5.13 last year.
Arun Kumar, Vice-Chairman and group CEO, said: “In spite of a subdued quarter and delay in product approvals for the US market, the company is confident of meeting its guidance for the year.”
“The company reaffirms the guidance for the year on revenues of Rs 1,000 crore with an EBITDA of Rs 200 crore.
“Pharma business revenues at 71 per cent of guidance and EBITDA adjusted for exchange loss at 81 per cent of guidance,” he added.
Regulatory filing
Company has filed 46 filings as on date with the USFDA with 18 pending approvals.
It has received the USFDA approval for Italian semi-solids and ointment facility (Beltapharm) and got ANDA approval from the USFDA for Tenofovir Disoproxil Fumarate and Emtricitabine tablets.
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