26/7/2024, 1:41:03 pm

Piramal Pharma Q1 Results: Net loss narrows from last year

Piramal Pharma Ltd. reported a net loss of ₹88.6 crore, but topline grew 11.6% YoY to ₹1,951 crore. EBITDA surged 55% to ₹204 crore, with a margin expansion of 170 basis points to 10.5%. Despite a 24% sequential revenue decline, the company expects a stronger second half, driven by its CDMO business and cost optimization initiatives, but shares fell 2% to ₹161.40 following earnings announcement.