AstraZeneca India's March quarter profit up y-o-y by 128.56%

28 May 2024 , 09:41 AM

AstraZeneca India has reported a significant increase in profit after tax (PAT) for the fourth quarter of FY24, with a year-on-year (Y-o-Y) growth of 128.56%, reaching ₹39.47 Crore.

At the time of writing, the shares of AstraZeneca were trading at ₹12,296 which is a 0.87% dip than the previous close. The stock has gained 6.94% in the last one year, and 13.98% since the beginning of the year.

The company’s consolidated revenue from operations experienced a substantial rise of 34.59%, totaling ₹383.19 Crore for the same period.

The notable increase in PAT was driven by higher revenues and exceptional expenses amounting to ₹40 Crore in the last quarter. On a sequential basis, AstraZeneca’s revenue grew by 25.32%, while PAT surged by 149.81%.

During the financial year 2023-24, the company achieved several marketing approvals for new molecules and indications, broadening treatment options for various medical conditions. They are, Trastuzumab deruxtecan was approved for dual indications, including treatment of HER2 low breast cancer and HER2 positive gastric/gastro-oesophageal cancer. And, Andexanet alfa received approval for use in critical bleeding conditions associated with novel anticoagulants.

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