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Net sales jumped 18% to Rs 1,748.85 crore during the quarter, up 18% as compared with Rs 1481.99 crore in Q1 FY23.
The company posted a pre-tax loss at Rs 107.11 crore in Q1 FY24 as compared with pre-tax loss of Rs 115.14 crore recorded in Q1 FY23.
EBITDA stood at Rs 171 crore, jump 92% YoY during the quarter. EBITDA margin was at 10% in Q1 FY24 as against 6% in Q1 FY23, driven by healthy revenue growth and cost optimization measures
Revenue from Operation grew by 18% YoY in Q1FY24 driven by broad base performance across all three businesses – CDMO, CHG and ICH.
The contract development and manufacturing organization (CDMO) segment revenues stood at Rs 898 crore in Q1 FY24, up 17% YoY while down 30% QoQ.
Its complex hospital generics segment posted revenues of Rs 617 crore in the first quarter, up 22% YoY while down 12% QoQ.
The Indian consumer healthcare business stood at Rs 239 crore in the said quarter, up 13% YoY and 16% QoQ. 11 new products and 3 new SKUs launched during Q1FY24.
Nandini Piramal, chairperson, Piramal Pharma, said, “We had a positive start to the new financial year with healthy revenue growth and improvement in our EBITDA margins. Our CDMO business is also witnessing continued order inflows, especially for our differentiated offerings and innovation related work. Our Inhalation Anesthesia portfolio is seeing a healthy demand and our India Consumer Healthcare business is delivering good growth driven by power brands.
Our promoter and promoter group have agreed to subscribe to the extent of 100% of the equity shares offered in our Rights Issue, thereby reaffirming their confidence in the underlying strengths of our business.”
Piramal Pharma (PPL) offers a portfolio of differentiated products and services through end-to-end manufacturing capabilities across 17 global facilities and a global distribution network in over 100 countries. PPL includes Piramal Pharma Solutions (PPS), an integrated Contract Development and Manufacturing Organization; Piramal Critical Care (PCC), a Complex Hospital Generics business; and the India Consumer Healthcare business, selling over-the-counter products.
The scrip declined 2.07% to Rs 102.90 on the BSE.
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