India's Strides Pharma jumps after reporting Q4 profit

Strides Pharma Science

22/05/2024 09:57

** Shares of Strides Pharma Science  SRID.NS  up 7.8% at
911.75 rupees after rising as much as 8.7% earlier
    ** Pharmaceutical co reports Q4 consolidated net profit at
181.8 mln rupees ($2.2 mln) vs loss of 95.4 mln rupees yr ago
    ** Rev from ops rose 9.9% Y/Y
    ** Stock is witnessing its most active trading session since
Feb. 14, with more than 1.6 mln shares changing hands, 5.8x of
30-day avg
    ** Co sees continuing business revenue to grow at 12-15% Y/Y
for FY25
    ** Says its U.S. business revenue to be in $285 mln-$300 mln
range for FY25
    ** Stock rose ~21% in March quarter, its fourth straight
quarterly rise






($1 = 83.2502 Indian rupees)

 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))