Strides Shasun net profit has decreased 87.44 per cent to ₹10.73 crore against ₹85.43 crore it posted in the same period last year.
However, consolidated revenue from operations increased to ₹995.60 crore, a 14.1 per cent increase in the September-ended quarter, against ₹871.96 crore it posted in the year-ago period.
"We had successful new product launches in the US and strong store additions in Australia", MD Shashank Sinha said in a statement. He added that the company expects continued growth driven by its focus on executing new product launches as approval momentum has picked up and operating leverage is kicking in. Its total formulations and API business grew by 7 per cent and 100 per cent, respectively.