At 10:16 am, Piramal Pharma shares were trading at Rs 160.70 on the NSE, reaching a one-year peak of Rs 166.70 on May 13. Trading volume surged as two crore shares exchanged hands, well above the one-month daily average of 61 lakh shares.
The company’s net profit for the January-March quarter more than doubled to Rs 132 crore from Rs 50 crore a year ago, with a one-time exceptional item of Rs 31 crore included. Excluding this, net profit doubled annually.
Revenue from operations rose by 18% to Rs 2,552 crore, driven by strong growth in its Contract Development & Manufacturing Organisation (CDMO) and India consumer healthcare businesses.
The CDMO segment, constituting 65% of total sales, recorded a 28% revenue growth to Rs 1,650 crore. The India consumer healthcare segment, accounting for 9% of total sales, saw a 16% year-on-year revenue increase to Rs 240 crore.
Nandini Piramal, Chairperson of Piramal Pharma, noted, “We saw significant increase in order inflows, especially for on-patent commercial manufacturing, amidst a difficult biotech funding environment. Contributions from our innovation related work and differentiated offerings also increased in FY24.”
Furthermore, operational performance improved as the EBITDA margin rose to 22% in January-March, up from 17% in the same period last year.
Piramal added, “All our three businesses delivered higher EBITDA margins through operating leverage, cost optimization, and operational excellence initiatives.”
Disclaimer: We advises users to check with certified experts before making any investment decisions.
