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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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Laid stars Stephanie Hsu and Zosia Mamet reveal the worst gifts their romantic partners gave them | Exclusive

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Laid stars Stephanie Hsu and Zosia Mamet reveal the worst gifts their romantic partners gave them | Exclusive

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Stephanie Hsu and Zosia Mamet talk about their new series Laid, and some of the horrors of dating as millennials.
Imagine a scenario where anyone and everyone you have ever been intimate with begins to die one by one. Is it a curse? If yes, then who is cursed? These are questions that Stephanie Hsu‘s Ruby battles with in the new zany comedy, Laid. Ahead of the show’s release, Stephanie and co-star Zosia Mamet spoke exclusively with HT about their roles, the show’s unique premise, and the horrors of dating as millennials. (Also read: Dune: Prophecy star Emily Watson on working with Tabu: ‘She is a true treasure’)

Stephanie Hsu on her character’s flawed morality

Laid, created by Nahnatchka Khan and Sally Bradford McKenna, is the story of Ruby (Stephanie Hsu), who discovers that all her sexual partners are dying one by one, and she must warn them. Helping her in this unique quest is her best friend AJ (Zosia). The fun thing about Laid is that the protagonists are not the usual likeable characters. “She is totally an anti-hero of our story. I really love that,” says Stephanie, referring to Ruby’s moral greyness. “I am not a perfect person and I love playing flawed characters. But it was difficult. The creators told me that she is a total narcissist. But narcissists don’t think they are one, so I had to figure out a way to love her. For me, playing Ruby was about getting into her psychology and finding the innocent part of her – which is that she just wants love,” the actor adds.

While sitcoms usually add the best friend as the voice of reason trope, Laid diverges from that, with AJ even zanier and more morally ambiguous than Ruby. Talking about playing such a colourful character, Zosia Mamet says, “When you play not-so-likable or zany characters, people don’t believe they are that way. I don’t think AJ wakes up every morning and thinks, ‘I am absolutely crazy’. It’s about trusting the writing and finding an organic way into these characters to make them seem grounded, real, and relatable.”

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Stephanie, Zosia reveal the worst gifts they received from partners

In Laid, Ruby gives the gift of death to the men she is with, even if that is inadvertent. Ask the women about the worst ‘gift’ a partner has ever given them, and the discussions veer into the unusual horrors of modern-day dating. “I got a vintage wooden duck decoy from someone. It was broken, and I thought, ‘What does this say about our relationship?’. They didn’t know me well enough to know if I’d want this but also that they gave me something old and ailing,” Zosia says with a laugh.

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