Mumbai: Pharmaceutical firm Shasun Chemicals & Drugs on Monday announced a consolidated net loss of Rs 31.53 crore for the first quarter of current fiscal, owing to rising input prices and low sales incurred in its UK subsidiary.
The company had a consolidated net profit of Rs 4.88 crore in the first quarter of 2008 fiscal.
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First quarter sales of its wholly-owned UK subsidiary were lower due to some dispatches, which got shifted to the second quarter due to delay in arrival of raw materials, the filing added.
On a standalone basis, the company posted net loss of Rs 8.54 crore in the first quarter of this fiscal, compared with net profit of Rs 1.66 crore a year-ago. Loss for the first quarter, from April-June, was mainly due to an exchange loss arising on account of reinstatement of dollar denominated assets and liabilities and a phenomenal increase in input prices, part of which has been passed on to the customers.
Shasun, however, posted total revenue of Rs 103.23 crore for the first quarter of the current fiscal, a 6.64 per cent growth from Rs 96.80 crore posted in the first quarter of FY'08. Shares of the company were trading at Rs 36, down 0.28 per cent on the BSE.