Strides Arcolab announced its financial results for the quarter ended September 30, 2013. The consolidated pharma revenues for Year-to-Date (YTD) September 2013 has been reported at Rs 709 crores with an Earnings before Interest, Tax, Depreciation, and Amortization (EBITDA) of Rs 141 crores, impacted by an exchange loss of Rs 21 crores (EBITDA Margin of 20 per cent).
The adjusted for exchange loss, YTD September 2013 EBITDA has been reported at Rs 162 crores, EBITDA margin of 23 per cent. The pharma business revenues was at 71 per cent of guidance and EBITDA adjusted for exchange loss at 81 per cent of guidance.
The company has reaffirmed the guidance for the year on revenues of Rs 1000 crores with an EBITDA of Rs 200 crores. In Q3’13 consolidated pharma revenues has been posted at Rs 246 crores with an EBITDA of Rs 39 crores, which has been impacted by an exchange loss of Rs 7 crores.
In Q3’13 the consolidated pharma EBITDA grew by 82 per cent (Rs 39 crores in Q3 2013 against Rs 22 crores in Q3 2012).
“Inspite of a subdued quarter and delay in product approvals for the US Market, the company is confident of meeting its guidance for the year,” said Arun Kumar, Vice Chairman and Group Chief Executive Officer, Strides Arcolab.
EP News Bureau – Mumbai