Strides Pharma Q1 results: Net profit at Rs 84 crore vs net loss of Rs 29.5 crore a year ago

Published On 2024-07-30 10:54 GMT   |   Update On 2024-07-30 10:54 GMT

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. 

Advertisement

"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.”
Advertisement

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

Tags:    

Disclaimer: This site is primarily intended for healthcare professionals. Any content/information on this website does not replace the advice of medical and/or health professionals and should not be construed as medical/diagnostic advice/endorsement/treatment or prescription. Use of this site is subject to our terms of use, privacy policy, advertisement policy. © 2024 Minerva Medical Treatment Pvt Ltd

Our comments section is governed by our Comments Policy . By posting comments at Medical Dialogues you automatically agree with our Comments Policy , Terms And Conditions and Privacy Policy .

Similar News