Dishman Pharmaceuticals posted results lower than expected for 3QFY2017, with sales at Rs356cr v/s. Rs386cr in 3QFY2016, down by 7.6% yoy, mainly on the back of CRAMS. CRAMS sales (Rs246.7cr) de-grew by 16.5% yoy, constituting 69.2% of sales in 3QFY2017; while others (Rs110cr) posted a growth of 21.2% yoy. On the operating front, the gros..