Piramal Pharma net loss narrows at Rs 88.64 crore in Q1
New Delhi: Piramal Pharma Ltd has announced a reduction in its consolidated net loss for the first quarter ending June 30, 2024, on the back of higher sales. The company reported a net loss of Rs 88.64 crore for the quarter, a notable improvement from the Rs 98.58 crore loss recorded in the same period last year.
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.
Piramal Pharma Limited (PPL) offers a portfolio of differentiated products and services through end-to-end manufacturing capabilities across 15 global facilities and a global distribution network in over 100 countries. PPL includes Piramal Pharma Solutions (PPS), an integrated Contract Development and Manufacturing Organization; Piramal Critical Care (PCC), a Complex Hospital Generics business, and the India Consumer Healthcare business selling over-the-counter products.
PPS offers end-to-end development and manufacturing solutions through a globally integrated network of facilities across the drug life cycle to innovators and generic companies. PCC’s complex hospital product portfolio includes inhalation anaesthetics, intrathecal therapies for spasticity and pain management, injectable pain and anaesthetics, injectable anti-infectives, and other therapies.
In addition, PPL has a joint venture with Allergan. In October 2020, the company received a growth equity investment from the Carlyle Group.
