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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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Pahalgam Attack

Pachigam attack aftermath: International airlines avoid Pakistani airspace amid tensions with India

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Pachigam attack aftermath: International airlines avoid Pakistani airspace amid tensions with India

Due to a lengthier path, Lufthansa Flight LH760 from Frankfurt to New Delhi had to fly for over an hour longer on Sunday. Major foreign airlines, including Air France and Lufthansa, are avoiding Pakistani airspace as tensions between India and Pakistan remain high after a deadly terrorist assault in Pahalgam, Jammu and Kashmir, according to airlines and flight trackers on.

Monday. Air France agreed, stating that it had decided to halt flights over Pakistan due to the “recent evolution of tensions” between the two South Asian foes. “The airline has decided to suspend overflight of Pakistan until further notice,” Air France said in a statement, referring to the “recent evolution of tensions” between India and Pakistan The airline currently changing.

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In the wake of the recent Pachigam terror attack, a significant shift in international aviation routes has occurred. Following an uptick in security concerns and rising geopolitical tensions between India and Pakistan, several international airlines have opted to avoid Pakistani airspace, rerouting their flights to ensure passenger safety. The decision comes nations.

The Pahagam Terror Attack: A Trigger for Renewed Tensions

On the night of the attack in Pachigam, a popular tourist destination in Jammu and Kashmir, militants carried out a series of strikes on civilian and military targets. The assault left a number of casualties, both military personnel and civilians, sparking widespread condemnation. The attack, attributed to militant groups operating from across the border.

Airlines’ Concerns Over Safety and Security

In response to the escalating threat in the region, several international airlines, including prominent carriers from Europe, the Middle East, and Asia, have started to reroute their flights to avoid crossing Pakistani airspace. These precautionary measures, while not unprecedented, are a direct reflection of the security situation that has worsened in the wake of the attack.

Airlines typically rely on international aviation corridors for the fastest and most efficient flight paths, and Pakistani airspace has historically been a critical component of many international routes connecting Europe and Asia. However, in light of the heightened risk of military conflict, commercial carriers have begun to take proactive steps to avoid the region.

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European carriers, such as Lufthansa and Air France, have adjusted their flight paths over the past few weeks, choosing to bypass Pakistan altogether. Similarly, Middle Eastern giants, like Emirates and Qatar Airways, have rerouted certain flights to avoid potential risks associated with flying in close proximity to the disputed borders. These changes have led to longer flight.

The International Air Transport Association (IATA) has noted that these changes, while necessary, come with considerable logistical and financial consequences. Airlines must navigate alternative routes, which may lead to higher fuel consumption and longer durations of travel. Nevertheless, passenger safety is the highest priority, and the industry remains.

Diplomatic Implications and Regional Stability

The rerouting of international flights has far-reaching implications, not only in terms of aviation logistics but also for regional diplomacy. The decision to avoid Pakistani airspace can be seen as a subtle but clear indication of the international community’s concerns regarding with the growing uncertainty in the region, underscores the volatile nature of South the security situation between India and Pakistan. Such moves may further isolate Pakistan.

The Future of Aviation in the Region

As the situation unfolds, the aviation industry is closely monitoring developments. For international carriers, navigating the delicate balance between commercial operations and national security concerns is no small task. In the coming weeks, further changes in flight patterns are expected, depending on how the diplomatic and military tensions between India.

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