Strides Arcoiab's net dips on drug approval delays

摘要

Delay in new drug approvals dragged Strides Arcolab Ltd's profits by 92.66 per cent to Rs. 2.21-cr on a standalone basis for the third-quarter of this calendar year against Rs. 30.11-cr recorded in the same period last year. The company's revenues for Q3 is up 6.92 per cent to Rs. 208.94-cr against Rs. 195.40-cr in the same quarter last year. Commenting on the results, Mr. 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".