Piramal Pharma Q1 Net Loss Narrows - Business News
By Rediff Money Desk, New Delhi Jul 26, 2024 13:40
Piramal Pharma Ltd reported a narrowed net loss of Rs 88.64 crore in Q1 FY24, driven by higher sales. Revenue stood at Rs 1,951.14 crore, compared to Rs 1,748.85 crore in the year-ago period.
New Delhi, Jul 26 (PTI) Piramal Pharma Ltd on Friday reported a narrowing of consolidated net loss at Rs 88.64 crore in the first quarter that ended June 30, 2024, on the back of higher sales.
The company had posted a consolidated net loss of Rs 98.58 crore in the same quarter last fiscal, Piramal Pharma said in a regulatory filing.
Consolidated revenue from operations in the quarter under review stood at Rs 1,951.14 crore as compared to Rs 1,748.85 crore in the year-ago period, the company added.
Total expenses in the first quarter were higher at Rs 2,038.16 crore as compared to Rs 1,908.66 crore in the same period a year ago.
"We have had a good start to the financial year with a steady all-round performance...," Piramal Pharma Chairperson Nandini Piramal said.
The company's CDMO (Contract Development and Manufacturing Organisation) business continues to witness sustained order inflows, especially for on-patent commercial manufacturing, she added.
"We are also seeing good demand for our differentiated offerings with an increase in customer enquiries and visits. In our CHG (Complex Hospital Generics) business, our planned expansion for inhalation anaesthesia portfolio is on track and is expected to get commercialised in FY26," Piramal said.
The company had posted a consolidated net loss of Rs 98.58 crore in the same quarter last fiscal, Piramal Pharma said in a regulatory filing.
Consolidated revenue from operations in the quarter under review stood at Rs 1,951.14 crore as compared to Rs 1,748.85 crore in the year-ago period, the company added.
Total expenses in the first quarter were higher at Rs 2,038.16 crore as compared to Rs 1,908.66 crore in the same period a year ago.
"We have had a good start to the financial year with a steady all-round performance...," Piramal Pharma Chairperson Nandini Piramal said.
The company's CDMO (Contract Development and Manufacturing Organisation) business continues to witness sustained order inflows, especially for on-patent commercial manufacturing, she added.
"We are also seeing good demand for our differentiated offerings with an increase in customer enquiries and visits. In our CHG (Complex Hospital Generics) business, our planned expansion for inhalation anaesthesia portfolio is on track and is expected to get commercialised in FY26," Piramal said.
Source: PTI
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- ARC Finance
- 1.51 (+ 2.72)
- 99106131
- Vodafone Idea L
- 8.27 (+ 1.72)
- 37910491
- Guj. Toolroom Lt
- 18.98 (+ 4.98)
- 33052379
- Srestha Finvest
- 0.81 ( -2.41)
- 24087791
- Filatex Fashions
- 0.69 ( -4.17)
- 20455844
MORE NEWS
India Launches New PLI Scheme for Steel Sector
India's government will launch a new round of the PLI scheme for the steel sector,...
Lower GST on Cement to Boost Demand: JK Lakshmi
JK Lakshmi Cement urges government to reduce GST on cement to 18% and implement...
ICAR Member Urges Modi to Appoint New Director...
An ICAR member calls for a new director general with global expertise to revitalize the...