India's Strides Pharma falls on swinging to loss in Q4

Strides Pharma Science

25/05/2023 10:49

** Shares of Strides Pharma Science  SRID.NS  fall as much
as 8.3% to 346.2 rupees, on posting Q4 loss
    ** SRID posts biggest pct fall since June 16, 2022
    ** Co reported a consolidated net loss of 95.4 mln rupees 
($1.15 million) vs a profit of 292.2 mln rupees year ago
    ** Co's rev from cont ops rose ~14% to 9.86 bln rupees,
offset by a 4% rise in total expenses
    ** More than 3.4 mln shares change hands by 03:10 p.m. IST
vs 7.9x 30-day avg of 434,839 shares
    ** Analysts covering the stock on average have a "strong
buy" rating; median PT is 433.5 rupees - Refinitiv data
    ** Stock fell 18% in the March-qtr, up 7.9% YTD up to last
close



($1 = 82.7370 Indian rupees)

 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))