Piramal Pharma reports Rs 99 crore net loss in Q1

New Delhi, Aug 5: Piramal Pharma has reported a net loss of Rs 99 crore in April-June quarter (Q1) of the current financial year primarily on account of high finance cost and expenses.
The pharma firm had posted Rs 109 crore loss in the first quarter of FY23.
The company’s revenue from operation grew by 18% YoY in Q1FY24 driven by broad base performance across all three businesses ? contract development and manufacturing organization (CDMO), complex hospital generics (CHG) and India consumer healthcare (ICH).
Piramal Pharma said its EBITDA margin in Q1FY24 was 10%, a YoY improvement compared to 6% in Q1FY23, driven by healthy revenue growth and cost optimization measures.
Nandini Piramal, Chairperson, Piramal Pharma Limited in a media release said, “We had a positive start to the new financial year with healthy revenue growth and improvement in our EBITDA margins. (UNI)