Strides Pharma Q1 results: Net profit at Rs 84 crore vs net loss of Rs 29.5 crore a year ago
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Bangalore: Strides Pharma Science has announced a profit after tax (PAT) from continuing operations of Rs 84 crore for the first quarter ended June 30, 2024, marking a significant turnaround from a loss of Rs 29.5 crore in the same period last year.
The pharmaceutical company also revealed that its revenue for the quarter reached Rs 1,087 crore, up from Rs 932 crore reported in the the year-ago quarter.
"US revenues at a historic high of $70m in Q1FY25, a growth of 24.5% YoY," the Company stated in a release.
Arun Kumar, Founder & Executive Chairperson, and Badree Komandur, MD & Group CEO, commented on the performance and said, “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. The company achieved critical thresholds of 20% EBITDA margin, ₹683m of reported PAT and 2.3x Debt/EBITDA ratio. We are confident of sustaining the momentum with continuous improvement in the quality of business. The company has increased its focus on digitization, automation, and ESG for better compliance and business outcomes.”
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