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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.

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Report: BTS member Jungkook’s song “Seven” is poised to top the U.K. charts.

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Report: BTS member Jungkook’s song “Seven” is poised to top the U.K. charts.

The global phenomenon that is BTS continues to make waves in the music industry, transcending boundaries and captivating audiences worldwide. This time, the spotlight is on Jungkook.

one of the group’s immensely talented members, as his solo song “Seven” is set to dominate the U.K. charts. Let’s delve into the details of this exciting news and explore the factors contributing to Jungkook’s success as a solo artist.

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The Rise of BTS: BTS, a South Korean boy band, has garnered a massive following globally, earning a dedicated fan base known as the ARMY. With their infectious music, mesmerizing performances, and meaningful lyrics, BTS has established themselves as trendsetters and game-changers in the music industry.

Jungkook’s Solo Endeavors: While BTS’s success lies in the collective talent and synergy of all its members, each member has also been exploring their individual artistic ventures. Jungkook, often hailed as the group’s “golden maknae,” has been making waves with his solo projects, showcasing his exceptional vocal prowess and versatility as an artist.

“Seven” Storms the U.K.: News of Jungkook’s solo track, “Seven,” climbing the U.K. charts has taken the music industry by storm. The catchy melody, heartfelt lyrics, and Jungkook’s charismatic delivery have resonated with fans and new listeners alike, propelling the song towards chart-topping success.

Factors Contributing to Jungkook’s Triumph:

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  1. ARMY Power: BTS boasts an incredibly dedicated fan base known for their unwavering support. The passionate ARMY has rallied behind Jungkook, streaming and promoting “Seven” across various platforms, propelling it to the forefront of the U.K. music scene.
  2. Global Appeal: BTS’s international popularity has paved the way for individual members’ solo success. Jungkook’s immense talent, combined with the band’s global recognition, has helped him garner attention and win over audiences beyond the ARMY.
  3. Artistic Growth: Jungkook’s growth as an artist is evident in his solo endeavors. His ability to convey emotions and connect with listeners through his music has struck a chord with fans, creating a strong connection that fuels his solo success.

The Impact of BTS: BTS’s impact on the music industry extends far beyond chart success. Their music promotes self-love, empathy, and resilience, empowering listeners worldwide. Their massive following and achievements open doors for K-pop and Korean artists, fostering cultural exchange and expanding the global reach of Korean music.

Celebrating Music Diversity: The rise of Jungkook’s “Seven” on the U.K. charts also highlights the increasing diversity and inclusivity of the music landscape. It demonstrates that language is no barrier to connecting with audiences, and artists from different cultures can achieve widespread acclaim and recognition.

global impact their devoted fan base. It showcases the power of music to transcend boundaries and connect people from diverse backgrounds. As BTS continues to push boundaries and redefine the music industry, we can eagerly anticipate more solo endeavors from its talented members, each poised to make their unique mark on the world stage.

Note: This blog post is a fictional creation and does not reflect real events or statements by individuals.

Report: BTS Member Jungkook’s Song “Seven” Poised to Top the U.K. Charts

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In exciting news for BTS fans worldwide, Jungkook’s highly anticipated song “Seven” is on track to top the U.K. charts. The track, which showcases Jungkook’s unique vocal prowess and captivating sound, has been well-received by both fans and critics alike. According to recent reports, the song is rapidly climbing the U.K. singles chart, with many expecting it to claim the number one spot soon.

#Jungkook #Seven #UKCharts #BTS #KpopSuccess #Billboard #KpopSolo #BTSArmy #JungkookSeven

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