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

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2 years ago

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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.

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.

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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.

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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Lifestyle

10 best activities hacks for the better lifestyle for Business Managers.

Published

9 months ago

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August 9, 2023

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10 best activities hacks for the better lifestyle for Business Managers.

Business managers, known for their dynamic and demanding roles, are now adopting innovative activity hacks to improve their lifestyle and well-being. Recognizing the importance of work-life balance and personal wellness, these leaders are implementing a range of activities to foster physical health, mental clarity, and overall satisfaction in their professional and personal lives.

Mindfulness at Work lifestyle

Business managers are incorporating mindfulness practices, such as meditation and deep breathing exercises, into their daily routines to reduce stress and increase focus in high-pressure situations.

Regular Exercise Breaks

Amid tight schedules, managers are embracing short exercise breaks, such as brisk walks or stretching exercises, to stay active throughout the day and boost their energy levels.

Nutrition and Healthy Eating

Prioritizing their well-being, managers are adopting healthier eating habits, including nutritious snacks and well-balanced meals, to sustain their energy during demanding workdays.

Time Management Workshops

Business managers are attending time management workshops to enhance their organizational skills, enabling them to efficiently juggle multiple responsibilities and achieve better work-life integration.

Skill Development Seminars

Recognizing the value of continual growth, managers are attending skill development seminars to stay updated on industry trends and enhance their leadership abilities.

Flexible Work Arrangements

Some forward-thinking companies are offering flexible work arrangements to business managers, providing the freedom to create a more harmonious work-life balance.

Social Engagement

Building a sense of camaraderie, managers are engaging in team-building activities and networking events to foster positive relationships within their professional circles.

Unplugging from Technology: In a digital era, managers are prioritizing personal time by unplugging from technology during non-working hours, allowing for genuine relaxation and recharging.

Pursuing Hobbies and Interests

Managers are rediscovering their passions outside of work, be it painting, gardening, or playing a musical instrument, to unwind and find fulfillment beyond their professional roles.

Encouraging Employee Wellness

Some managers are also promoting wellness initiatives within their teams, encouraging their employees to embrace similar activity hacks and lead healthier lives.

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