Piramal Pharma's Net Profit Leaps by 102% in Q4 to Rs 101 Crore

Piramal Pharma has recorded robust financial growth during the final quarter ended March 2024 and its united net benefit has taken a quantum bounce of 102% to Rs. 101 crore from Rs. 50 crore in the relating time of the year before. Its incomes expanded by 18% to Rs. 2,552 crore from Rs. 2,164 crore. EPS of Rs. 10 presumptive worth offer improved to Rs. 0.77 from Rs. 0.41 in the last period.

For the entire year ended March 2024, Piramal Pharma recorded a net benefit of Rs. 18 crore as against a deficiency of Rs. 186 crore in the earlier year. Its incomes expanded by 15% to Rs. 8,171 crore from Rs. 7,082 crore. As against the value capital of Rs. 1,322 crore, its stores and excess remained at Rs. 6,588 crore. EBITDA worked on by 61% to Rs. 1,372 crore from Rs. 853 crore.

Nandini Piramal, chairperson, said, “FY24 has been a strong year for the company with all round improvement, mainly driven by our contract development and manufacturing organization (CDMO) business that delivered a robust 19 per cent YoY revenue growth. 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. Capacity expansion at our Grangemouth facility for antibody drug conjugate segment was commercialized and is seeing good customer interest.”