Strides Shasun posts Rs 51.86 cr profit in Dec quarter

Bangalore-based pharma major Strides Shasun Ltd on Monday reported a consolidated net profit after taxes (PAT) of Rs 51.86 crore in the October-December quarter of FY 16. “The consolidated net profit of the company stood at Rs 19.04 crore during the same period a year ago,” said Strides Shasun Ltd in a filing to the Bombay Stock Exchange on February 08, 2016. Shasun Pharmaceuticals’ merger with the company became effective on November 19, 2015 with appointed date as April 01, 2015. In view of the merger of Shasun with the company, the figures for the various periods during the fiscal year 2015-16 are not comparable with the corresponding periods relating to the fiscal year 2014-15, the company said in a statement. The company’s consolidated total income stood at Rs 1,528.38 crore during Q3 2015-16. While it was Rs 329.1 crore in Q3 FY 15. Speaking on the performance, Strides Shasun Ltd, Executive Vice Chairman and MD, Arun Kumar said, “Considering the volatile external environment, we had a strong quarter with margins in line with guidance. We believe that we have laid a strong foundation for building the business of size and scale through organic and inorganic strategies”. The company reaffirms H2 FY16 guidance. Shasun Pharmaceuticals Ltd, Founder and Managing Director, Abhaya Kumar joined the board of Strides Shasun Ltd as an Executive Director. Meanwhile, shares of Strides Shasun closed at Rs 1,107.30 apiece, up 0.16 per cent, from previous close on BSE.