Piramal Pharma Reports Strong Revenue Growth in Q4 2023

25 May 2023 , 01:12 PM

Piramal Pharma, the prominent drugmaker, witnessed a significant surge in its stock value. This is an effect as investors celebrated the company’s robust earnings recovery in the quarter ending March 31, 2023.

Strong Financial Performance in Q4 2023:

• Piramal Pharma reported its highest margin and revenue in FY23 during the fourth quarter, showcasing a remarkable recovery.
• After incurring a net loss of Rs 90 crore in Q3, the drugmaker rebounded with a net profit of Rs 50 crore in the reviewed quarter.
• Sequentially, the revenue witnessed a growth of 26 %, reaching Rs 2,164 crore from Rs 1,716 crore in the previous quarter.

Margin Expansion:

• Piramal Pharma demonstrated a significant improvement in its EBITDA (earnings before interest, taxes, depreciation, and amortization) margin.
• The margin expanded from 10 % in Q3 to 17 % in Q4, reflecting enhanced operational efficiency and cost management.

Market Performance:

• On 25-05-2023 at noon, Piramal Pharma was trading with gains of 9.40 % (approximately) at Rs 81 on the NSE, indicating a positive market response to its strong financial results.

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