Strides Arcolab has announced its financial results for the quarter ended December 31, 2013. the company has posted revenue guidance of Rs 1,000 crores and EBITDA guidance of Rs 200 crores met despite delays in anticipated product approvals from the US FDA. The consolidated pharma revenues for YTD Dec’13 was reported at Rs 1,035 crores with an EBITDA of Rs 201 crores, impacted by an exchange loss of Rs 22 crores. Adjusted for exchange loss, YTD Dec’13 EBITDA was posted at Rs 223 crores, EBITDA margin of 22 per cent. The Q4’13 consolidated pharma revenues was posted at Rs 326 ccrores with an EBITDA of Rs 60 crores. Q4’13 consolidated Pharma EBITDA grew by 100+ per cent (Rs 60 crores in Q4 2013 against Rs 28 crores in Q4 2012).
“This has been a defining quarter for all of us at Strides as we delivered significant value to all stakeholders post the successful completion of the Agila transaction. The continuing global pharma business has delivered the 12 month guidance despite delays in key product approvals from US FDA. We expect to continue the momentum in the coming quarters,” said Arun Kumar, Vice Chairman and Group Chief Executive Officer, Strides Arcolab.
EP News Bureau – Mumbai