Claris posts timid results as associates underperform

 Claris Lifesciences has declared its Q4FY16 results. The company has posted timid results. On a (QoQ) basis the company has posted a Net revenue of around 107.87 crore. Net revenue for the period has seen a decrease of 26 per cent from the previous quarter. Net profit stands at Rs 3.21 crore as compared to Rs 8.03 crore in the corresponding quarter.

On a (YoY), the revenue has decreased by 6 per cent, and stands at Rs 754.21 crore as against Rs 799.75 crore in the same period last year; EBITDA margin has also plunged by 6 per cent and stands at Rs 145.54 crores. The firm has posted a Net loss of Rs 58 crore for the current year.

The company's consolidated results were bad, as the firm has reported losses from its associates, which stand at Rs 3 crores and 2 crores on a (QoQ) and (YoY) basis respectively. Company's other income also took a toll and saw a decline of 53 per cent.

Claris Lifescience is a sterile injectable manufacturing pharmaceutical company in India. The company operates in drug & pharmaceutical business segment. The company primarily manufactures and markets products across multiple markets, and therapeutic segments. The company’s product portfolio includes various therapeutic segments, including anaesthesia, critical care, anti-infectives, renal care, infusion therapy, enteral & parenteral nutrition and oncology.

The shares on the bourses are trading at 163.50, up by (2.52 %). The shares are up as the only reason for the firm to report a Net loss for the year was the loss registered from its associates.