Drug firm Strides Shasun today reported a consolidated net loss of Rs 4.40 crore from the continuing operations.
The company had posted a net profit of Rs 91.59 crore for the same period a year ago, Strides Shasun said in a BSE filing.
Consolidated revenue from continuing operations of the company stood at Rs 664.15 crore. It was Rs 677.13 crore in the same period a year ago.
For the fiscal year ended March this year, the company posted a consolidated net profit of Rs 70.22 crore. It was Rs 279.71 crore for the year ago period.
Consolidated revenue from continuing operations for the fiscal year ended March 2018 stood at Rs 2,839.38 crore. It was Rs 2,755.44 crore for the previous fiscal year.
"The financial year 2017-18 was a difficult year for Strides. While we continue to build momentum with our strategy, our execution was far from satisfactory," Strides Shasun Group CEO and Managing Director Arun Kumar said.
In 2018-19 company's clear focus will be on the improving the quality of growth which will deliver a strong bounce back in the second half of financial year 2018-19, he added.
Shares of Strides Shasun today tanked 23.03 per cent to close at Rs 387.10 per scrip on the BSE.