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Solara Active Pharma tanks 20%, hits 52-week low on weak Q3 results

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Solara Active Pharma tanks 20%, hits 52-week low on weak Q3 results

Shares of Solara Active Pharma Sciences were locked at the 20% circuit floor of Rs 775.05 on the BSE on Thursday after the company reported a consolidated net loss of Rs 1.4 crore for the December quarter (Q3FY22), also its 52-week low, on the back of revenue lower. The pharmaceutical company posted a profit of Rs 65.78 crore in the same period last year (Q3FY21).

The stock has corrected 58% from its 52-week high of Rs 1,859.30 hit on May 19, 2021. About 55,000 shares had changed hands as of 09:33am, with 770,000 pending orders on the NSE and BSE.

In 3QFY22, the company’s revenue fell 74% quarter-on-quarter and 76% year-on-year to Rs 105 crore. It reported an operating loss of Rs 817 crore against a profit of Rs 885 crore in the third quarter of fiscal 2021.

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During the quarter, operating income declined due to continued weak demand for ibuprofen and a few other key products and delays in the approval of Covld-19 products. In addition, the Group also included a provision for sales returns to execute its strategy of shifting sales to direct customers, significantly limiting channel sales.

In addition to this one-time impact, management said, “Solara’s Q3FY22 performance was subdued, mainly due to subdued market demand in regulated markets and higher costs resulting from a volatile materials pricing environment and increased logistics costs”.

Nonetheless, management believes the demand side has bottomed out and business will return to normal starting in the fourth quarter of fiscal 2022.

“We remain committed to our long-term goals for growth and profitability, which we expect to rebound from the second half of next fiscal year. In the near term, we expect the revenue trajectory to return to pre-Q3FY22 levels,” management said.

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Meanwhile, Solara announced that Bharath R Sesha has resigned as the company’s managing director and chief executive officer and director (MD & CEO) to pursue interests outside the company. Rajesh Salwan, who currently serves as the company’s executive vice-chairman, has been given additional responsibilities as MD and CEO, the company said.

Complete News Source : Business Standard

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Akshay Kumar wishes director Priyadarshan on birthday with Bhooth Bangla BTS pic: ‘Surrounded by ghosts…

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Akshay Kumar wishes director Priyadarshan on birthday with Bhooth Bangla BTS pic: ‘Surrounded by ghosts…

Akshay Kumar and Priyadarshan, the acclaimed Indian director, celebrated their 68th birthday on Instagram. Kumar, who has worked with Priyadarshan on several cult comedies of the early 2000s, wished him a happy birthday and called him a mentor. The duo is now back together for their upcoming horror-comedy, Bhooth Bangla.

The first poster of the movie has been released, and it is expected to hit theaters in 2025. Akshay Kumar wore a black fedora and a green jacket, layered over a black tee, and fans have expressed their excitement for their new movie.

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The duo’s dynamic and deep bonding have been praised by fans, who have expressed high anticipation for their new movie. The first poster of Bhooth Bangla has already been released, and the movie is expected to hit theaters in 2025.

Akshay Kumar, the versatile Bollywood actor, recently celebrated director Priyadarshan’s birthday by sharing a behind-the-scenes (BTS) photograph from their upcoming film, “Bhooth Bangla.” In the image, Akshay humorously captioned, “Surrounded by ghosts…” The photo features Akshay alongside Priyadarshan and co-actor Paresh Rawal, all dressed in traditional attire, with a black cat perched on Akshay’s shoulder, adding a whimsical touch to the scene.

Reunion After 14 Years

This collaboration marks a significant reunion between Akshay Kumar and Priyadarshan, who last worked together on the film “Bhool Bhulaiyaa” in 2007. Their partnership has been celebrated in the past for delivering successful comedies like “Hera Pheri” and “Garam Masala.” Fans have eagerly anticipated their return to the big screen together, and “Bhooth Bangla” promises to be a delightful addition to their repertoire.

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About ‘Bhooth Bangla’

“Bhooth Bangla” is a horror-comedy that blends elements of suspense with humor, a genre in which both Akshay Kumar and Priyadarshan have excelled. The film is produced by Balaji Telefilms Ltd in association with Cape of Good Films. The motion poster released earlier this year features Akshay Kumar in a suit, with a cat on his shoulder, licking milk slyly, setting the tone for the film’s intriguing and humorous premise.

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Anticipation and Fan Reactions

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The BTS photo shared by Akshay Kumar has generated excitement among fans, who are eager to see the trio back together on screen. The playful caption and the presence of the black cat suggest that “Bhooth Bangla” will offer a mix of thrills and laughs, staying true to the successful formula of their previous collaborations.

As the release date for “Bhooth Bangla be a significant highlight in the upcoming entertainment lineup. The reunion of Akshay Kumar, Priyadarshan, and Paresh Rawal, combined with the intriguing premise and the playful BTS moments, has set high expectations among audiences. Fans can look forward to a cinematic experience that promises both chills and chuckles.

For a visual glimpse into the making of “Bhooth Bangla,” you can watch the following video Akshay Kumar expressed his gratitude as they once again united for their upcoming movie Bhooth Bangla. This marks a new chapter in their long-standing collaboration since the 2000s. He shared a picture from behind the scenes of their new movie, where it seems like they are laughing about something.

Akshay wrote,”Happy Birthday, Priyan Sir! What better way to celebrate than by spending the day on a haunted set, surrounded by ghosts…both real and unpaid extras? Thank you for being a mentor, and the only person who can make chaos look like a masterpiece. May your day be filled with fewer retakes. Wishing you a fantastic year ahead!”

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