Strides Pharma Q1 Profit Surges to Rs 84 Crore - Business News
Jul 29, 2024 17:51
Strides Pharma Science reported a strong Q1 FY24 performance with a profit after tax of Rs 84 crore, compared to a loss in the previous year. Revenue also grew significantly.
New Delhi, Jul 29 (PTI) Strides Pharma Science on Monday said its profit after tax from continuing operations stood at Rs 84 crore for the first quarter ended June 30.
The drug firm had reported a loss of Rs 29.5 crore in the April-June period of the last fiscal.
Its revenue stood at Rs 1,087 crore in the period under review compared to Rs 932 crore in the year-ago quarter, Strides Pharma Science said in a statement.
"Our emphasis on profitability, efficiency and growth has led to a strong performance across markets, allowing us to deliver superior returns ahead of the projected timelines for our FY25 outlook," Strides Pharma Science Founder & Executive Chairperson Arun Kumar said.
The company is confident of sustaining the momentum with continuous improvement in the quality of business, he added.
"The company has increased its focus on digitisation, automation, and ESG for better compliance and business outcomes," Strides Pharma Science MD and Group CEO Badree Komandur said.
Shares of the company on Monday ended 1.15 per cent up at Rs 1,033.75 apiece on the BSE.
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