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Strides Shasun announces Q2 FY17 results

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Revenues has been posted at Rs 9,461 million, showing a growth of 33 per cent Y-o-Y

Strides Shasun has announced its Q2 FY17 results. The total revenues for Q2 FY17 has been posted at Rs 9,461 million against Rs 7,099 million in Q2 FY16, up 33 per cent Y-o-Y. There has been a significant ramp up in R&D spend for the quarter at Rs 348 million against Rs 238 million in Q2 FY16, up 46 per cent Y-o-Y and against Rs 228 million, up 53 per cent Q-o-Q. EBITDA is at Rs 1,682 million up 42 per cent Y-o-Y, EBITDA margins at 18 per cent up 110 bps Y-o-Y.

Net interest cost for the quarter was at Rs 328 million. Depreciation and amortisation for the quarter was at Rs 457 million. Adjusted PAT for Q2 FY17 was at Rs 826 million and adjusted EPS was at Rs 9.24.

Arun Kumar, Executive VC and MD, Strides Shasun stated, “It has been a comeback quarter for the emerging markets with the strategic intervention over the last few quarters yielding the desired outcome. The regulated markets and the institutional business continue to deliver healthy growth with an improved sequential performance on a higher revenue base. API performance during the quarter was impacted due to planned/ temporary suspension of production at company’s facilities in Pondicherry and Cuddalore for a significant upgrade of infrastructure. Both the plants are back in operations at full swing.”

EP News Bureau

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