Revenue from operations also declined to Rs 5,739 crore in the September quarter as against Rs 5,942 crore in the year-ago period.
Vice-Chairman and Managing Director K Nithyananda Reddy said the company’s second quarter performance was subdued, mainly due to macro-environment factors and higher competitive intensity for some products in the US.
“However, we are confident that our robust pipeline of new products will provide impetus to the future growth trajectory,” he added.
Reddy noted that company’s continued focus on biosimilars, R&D, innovation and increasing manufacturing capacity will enhance its product offerings in various markets.
“We are confident that, the right measures and growth-led strategies will help improve our profitability and margins over the medium to long term,” he added.
The drug firm reported 11 per cent year-on-year dip in US formulations revenue to Rs 2,638 crore. PTI MSS ABM ABM
