Piramal Pharma Revenue Rises 14% at Rs 1,959 Crore in Q3

Piramal Pharma Ltd detailed a 14% year-on-year ascend in its united income from tasks to ₹1,959 crore in the December finished quarter (Q3FY24), driven areas of strength for by across its verticals. Net benefit was at ₹10.11 crore, a circle back from the overal deficit kept in a similar period last year.

Earnings before interest, tax, depreciation, and amortization (Ebitda) for the quarter stood at ₹330 crore, up 94% year-on-year (YoY), with Ebitda margin at 17%. Margin improvement was the result of operational leverage, reduced costs of raw materials and energy, cost-efficiency measures, and initiatives aimed at operational excellence, as per livemint.

“…Our CDMO business is delivering healthy growth with robust order inflows, especially for differentiated offerings and innovation-related work," said Nandini Piramal, chairperson, Piramal Pharma. “Our inhalation anaesthesia portfolio is registering good volume growth in our key market of the US and is also seeing increasing traction in RoW (rest of the world) markets. Our India consumer healthcare business is delivering steady growth driven by our power brands and contributions from new product launches."

Contract development and manufacturing organization (CDMO), complex hospital generics (CHG), and India consumer healthcare (ICH) are the company's three business verticals. Revenue for the CDMO segment increased by 12% year-over-year, largely due to new commercial manufacturing orders for patented molecules. The organization underscored continuous enhancements in the benefit of its CDMO business, on account of income development, standardization of unrefined substance expenses, and cost-saving drives.

“Recent order inflows have had a higher quotient of innovation-related work with good demand for our differentiated offerings. During the quarter we also received our first integrated anti-body drug conjugate (ADC) order involving monoclonal antibodies. Three sites involved – Lexington, Grangemouth, and Yapan," the company said in an exchange filing.