AstraZeneca Pharma Net Profit Rises To Rs. 39.5 crore in Q4FY24

AstraZeneca Pharma India Ltd's net profit for the quarter ended March 31, 2024 has doubled to Rs. 39.48 crore, up from Rs. 17.27 crore in the same time last fiscal year. Total income increased 34% to Rs. 391.86 crore during the quarter, compared to Rs. 292.7 crore during the same period last year.

For the fiscal year ending March 31, 2024, the company's net profit increased by 81% to Rs. 161.51 crore, up from Rs. 89.29 crore in the same quarter last year. The total income for the fiscal year increased by 29.3 percent to Rs. 1,330.32 crore, up from Rs. 1,029.07 crore in the previous year.

Dr Sanjeev Panchal, country president and managing director, AstraZeneca India, commented, "FY 2023-24 was one of the strongest years for us in the country and we take immense pride in our consistent performance. AstraZeneca India products sales for first time cross Rs. 1,000 crore mark, delivering total revenue of almost around Rs. 1,300 crore with growth of 29% this year."

As per Panchal, the company's excellent execution of its growth through innovation approach is assisting it in propelling its objective to be scientific pioneers and leaders in specialty disease areas in India.

He stated that the pharmaceutical company has a pipeline progress, which included 9 new medications and indication approvals last year, places it in the best possible position.

On May 27, 2024, the board of directors recommended, subject to shareholder approval at the company's annual general meeting, a final dividend of Rs. 24 per equity share for the fiscal year 2023–2024.