Strides Pharma Q1 results: Net profit at Rs 84 crore vs net loss of Rs 29.5 crore a year ago
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.
Strides, a global pharmaceutical company headquartered in Bengaluru, India, is listed on the BSE Limited (532531) and National Stock Exchange of India Limited (STAR). The Company mainly operates in the regulated markets and has an “in Africa for Africa” strategy and an institutional business to service donorfunded markets. The Company’s global manufacturing sites are located in India (Chennai, Puducherry, and two locations in Bengaluru), Italy (Milan), Kenya (Nairobi), and the United States (New York). The Company focuses on “difficult to manufacture” products sold in over 100 countries
Read also: USFDA approves Strides Pharma Global stomach ulcer treatment drug
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