India's Solara Active Pharma falls 5% on Q2 loss

Solara Active Pharma Sciences

09/11/2022 08:54

** Indian active pharma ingredient maker Solara Active
Pharma Sciences  SOLA.NS  fall as much as 5.1% to 421.1 rupees,
biggest intraday pct loss since Sept. 28
    ** Co reports loss of 99.6 mln Indian rupees ($1.23 mln)
against profit 297.1 mln rupees a year ago, hit by fall in sales
    ** Significant operational initiatives introduced to improve
profitability, on track for a bounce back in the second half -
SOLA
    ** SOLA recently got approval from the European Directorate
for Quality of Medicine for making painkiller ibuprofen 
    ** About 240,650 shares change hands vs 30-day avg of 73,033
shares
    ** SOLA shares down 56.5% YTD as of last close
($1 = 81.2550 Indian rupees)
 (Reporting by Nallur Sethuraman in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 8061822737); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))