New Delhi, Feb 10 (PTI) Strides Pharma Science on Thursday reported a consolidated net loss of Rs 126.65 crore for the third quarter ended in December 2021.

The company had posted a consolidated net profit of Rs 35.15 crore in the October-December period of the previous fiscal.

Also Read | Asus ROG Phone 5s & ROG Phone 5s Pro India Launch Confirmed for February 15, 2022.

Revenue from operations declined to Rs 794.39 crore in the third quarter as against Rs 832.02 crore in the same period of the previous fiscal.

"We expect the growth momentum in the US to pick up in coming quarters driven by new product launches from the combined portfolio,” Strides Pharma Science Managing Director & CEO R Ananthanarayanan said in a statement.

Also Read | CISF Recruitment 2022: Apply for 1149 Constable (Fire) Posts at cisfrectt.in; Check Details Here.

The company's performance in the other regulated markets continues to be steady and the drug maker is witnessing healthy traction across key markets.

"We continue to focus on expanding our product offering in these markets to drive the next leg of growth. The emerging markets performance during the quarter was driven by our institutional business with healthy procurement from our partners," Ananthanarayanan said.

The company's cost initiatives have started yielding results and have witnessed improvements in base cost structures, he added.

"As we further scale our businesses across regions, we expect improvement in operating leverage in coming quarters," Ananthanarayanan said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)