Piramal Pharma shares soar 11%, hit 52-week high after Q4 profit jumps 102% YoY
The company's revenue from operations increased by 18% to Rs 2,552.4 crore as against Rs 2,163.6 crore in the corresponding period of the preceding fiscal.
of rallied 11% to hit a at Rs 166.6 in Monday's trade on after the firm posted a 102% Year-on-Year () increase in Profit After Tax (PAT) during the Q4FY24, reaching Rs 101.3 crore. This increase in PAT was attributed to good performance in the , differentiated offerings and capacity expansion.The company's from operations increased by 18% to Rs 2,552.4 crore as against Rs 2,163.6 crore in the corresponding period of the preceding fiscal.
On a sequential basis, the company’s profit jumped more than nine-fold. The revenue also rose by 30%. The Earnings before Interest, Tax, Appreciation and Amortisation () rose 48% YoY reaching Rs 556 crore.
EBITDA margin stood at 20.8% in the reporting quarter as compared to 16.2% in the corresponding period in the previous fiscal. Net debt or EBITDA improved from 5.6x at the start of the financial year to 2.9x at the end of FY24.
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The board of directors also recommended a final of Rs 0.11 per equity share of Rs 10 each for the financial year ended March 31, 2024, which will be paid or dispatched after the 4th Annual General Meeting, subject to the approval of shareholders of the company.
Commenting on the Q4 results, , Chairperson of Piramal Pharma, said, "FY24 has been a strong year for the company with all-round improvement, mainly driven by our CDMO business that delivered a robust 19% YoY revenue growth. We saw a significant increase in order inflows, especially for on-patent commercial manufacturing, amidst a difficult biotech funding environment. Contributions from our innovation-related work and differentiated offerings also increased in FY24."
At 10:58 am, the stock was trading 6.8% higher at Rs 160.5 on the BSE. Over the past six months, the stock has surged by 34%, and over the last year, it has seen an increase of nearly 120%.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of )
EBITDA margin stood at 20.8% in the reporting quarter as compared to 16.2% in the corresponding period in the previous fiscal. Net debt or EBITDA improved from 5.6x at the start of the financial year to 2.9x at the end of FY24.
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The board of directors also recommended a final of Rs 0.11 per equity share of Rs 10 each for the financial year ended March 31, 2024, which will be paid or dispatched after the 4th Annual General Meeting, subject to the approval of shareholders of the company.
Commenting on the Q4 results, , Chairperson of Piramal Pharma, said, "FY24 has been a strong year for the company with all-round improvement, mainly driven by our CDMO business that delivered a robust 19% YoY revenue growth. We saw a significant increase in order inflows, especially for on-patent commercial manufacturing, amidst a difficult biotech funding environment. Contributions from our innovation-related work and differentiated offerings also increased in FY24."
At 10:58 am, the stock was trading 6.8% higher at Rs 160.5 on the BSE. Over the past six months, the stock has surged by 34%, and over the last year, it has seen an increase of nearly 120%.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of )
Source: Stocks-Markets-Economic Times
