TAKE Solutions sheds 7% after posting Q4 loss

New Delhi: Shares of TAKE Solutions tanked 7 per cent in early trade on Friday after the company reported a net loss in the quarter ended on March 31, 2021 on the back of a slump in revenue.

The pharmaceuticals company reported a net loss of Rs 68.13 crore in the March 2021 quarter. However, the loss has narrowed 60 per cent. The company reported a net loss of Rs 159.15 in the same quarter previous year.

The counter shed 7 per cent to Rs 65.45 on Friday, but was trading at Rs 66.20 at 10.45 am. BSE Sensex was trading with mild cuts at 52,676.05 at the same time. The counter had settled at Rs 70.35 on Thursday.

The revenue from operations during the Q4FY2021 slipped over 40 per cent per cent to Rs 220.99 crore as compared to revenue Rs 370.66 crore during the same quarter previous year.

TAKE Solutions is a full-service CRO supporting pharma, biotech and devices companies across the globe. The counter has gained 25 per cent in the year 2021 so far.

Net loss of the company widened Rs 452.35 crore during the financial year 2020-21 as against the net loss of Rs 1.09 crore in the FY 2019-20. The revenue from operations slumped over 65 per cent to Rs 774 during the period under review.