Drug firm Strides Pharma Science on Friday reported a consolidated loss of Rs 208.56 crore for the quarter ended June 30, 2021.
The company had posted a net profit of Rs 101.84 crore for the corresponding period of the previous financial year, Strides Pharma Science said in a regulatory filing.
Revenue from operations of the company stood at Rs 688.36 crore for the quarter under consideration. It was Rs 781.79 crore for the same period a year ago, it added.
"Q1FY22 has been an unprecedented quarter for Strides amid multiple macro headwinds from the recent wave of COVID‐19. This has led to significant disruptions both on the demand and supply side," Strides Pharma Science Managing Director and Chief Executive Officer R Ananthanarayanan said.
The above headwinds have resulted in the company reporting an operating loss for the first time ever, he added.
“While we are witnessing near-term challenges due to price erosion, we are taking a number of actions to adapt to the new market realities," Ananthanarayanan said.
Shares of Strides Pharma Science were trading at Rs 731.70 per scrip on BSE, down 6.43 per cent from its previous close at 3.30 PM.
On the NSE, shares were trading at Rs 731.05 down 6.48 percent at close of day's trading.
