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Drug firm Strides Arcolab has reported a net profit of Rs 2.15 crore for the quarter ended June 30, 2013.
The company had posted a net loss of Rs 19.90 crore in the corresponding quarter previous fiscal, Strides Arcolab said in a statement.
Net sales, however, stood at Rs 150.83 crore for the quarter under review against Rs 162.65 crore in the same period a year-ago.
Commenting on the results, Strides Arcolab Vice-Chairman and Group CEO Arun Kumar said: “We are pleased with our performance which is in line with our guided EBITDA and revenues.”
With recent product approvals, the company expects to deliver a strong second half in the pharmaceutical business, he added.
The company currently has 46 filings with the US Food and Drug Administration and has received WHO pre-qualification for its anti-malarial product Artemether + Lumifantrine tablets. It also expects 2-3 key approvals during the second half of 2013.
Shares of Strides Arcolab were trading at Rs 712.85 in the afternoon trade on the BSE, down 2.87 per cent from their previous close.
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