Piramal Pharma logs 350% y-o-y growth in Q2 net profit

24 Oct 2024 , 02:30 PM

Piramal Pharma Ltd reported a 350% increase in net profit to ₹22.59 Crore in the second quarter of FY25, up from ₹5.02 Crore in the same period in FY24.

Revenue from operations increased by 17.3% to ₹2,241.75 Crore, from ₹1,911.38 Crore in the same period last year.

The company’s EBITDA increased by 29% to ₹341.61 Crore from ₹265.64 Crore, with an improved EBITDA margin of 15.2% compared to 13.9% year on year.

Piramal Pharma Limited’s Chairperson, Nandini Piramal, attributed the company’s development to its solid operational performance throughout its major segments.

Piramal Pharma’s CDMO business grew due to increased demand for innovative projects, and the company also announced a $80 Million expansion plan for its Lexington plant, which is slated to be completed by FY27. This investment aims to capitalise on the growing need for sterile fill-finish capabilities.

In the Consumer Healthcare (CHG) sector, the company reported consistent volume increase in Inhalation Anaesthesia products in the United States and emerging markets. Piramal Pharma’s power brands and e-commerce sales in India Consumer Healthcare (ICH) grew further.

Nandini Piramal confirmed the company’s long-term strategy, saying, “Over the long term, we remain committed to achieving our financial goals of US$2 billion in revenue with a 25% EBITDA margin and 1x net debt/EBITDA by FY30.”

At around 12.46 PM, Piramal Pharma was trading 18.25% higher at ₹256.25, against the previous close of ₹216.70 on NSE. The counter touched an intraday high and low of ₹257.95, and ₹224.05, respectively.

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