New Delhi: Strides Pharma Science saw a 4 per cent increase in its shares during morning trading on Tuesday following the announcement that its profit after tax for the June quarter was Rs 84 crore from continuing operations. The company's stock saw a 4.02 per cent increase, reaching Rs 1,071.60 per share on the National Stock Exchange (NSE).
Strides Pharma Science's stock on the BSE increased by 3.54 pc to reach Rs 1,070.35 per share During the intraday trading session, the pharmaceutical company's stock rose to reach its year-high prices of Rs 1,123 on the NSE and Rs 1,120.30 on the BSE.
On Tuesday, the BSE benchmark index rose 365.99 points, or 0.45 pc, to 81,721.83, and the Nifty index increased by 112.65 points to reach 24,948.75. Strides Pharma Science reported a profit after tax of Rs 84 crore for the first quarter of the current fiscal from continuing operations. In a regulatory filing, the company mentioned that they had incurred a loss of Rs 29.5 crore in the same period last year. It stated that its revenue was Rs 1,087 crore during the period reviewed, up from Rs 932 crore a year earlier.
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