Piramal Pharma posts Rs 10 crore net profit in Q3FY24

The company reported net loss of Rs 90 crore in the corresponding quarter of the previous year.

The net profit stood at Rs 35 crore before an exceptional item related to non-recurring charges towards product recall triggered by a third-party supplier.

Revenue from operations rose 14% YoY driven by double digit growth across all the three businesses.


The earnings before interest, tax, depreciation and ammortisation (EBITDA) rose 94% YoY to Rs 330 crore. The EBITDA margins expanded 700 basis points YoY in Q3FY24, and stood at 17%.

Revenue from contract development and manufacturing organisation (CDMO) business grew 12% YoY to Rs 1134 crore led by new orders, favorable revenue mix, normalization of raw material cost and cost optimization initiatives.

The complex hospital generics business grew 12% to Rs 576 crore due to growth in the inhalation anaesthesia portfolio in the US market, partly offset by lower market prices

The consumer health business sales rose 12% to Rs 252 crores driven by sustained marketing and brand building efforts

“Our CDMO business is delivering healthy growth with robust order inflows, especially for differentiated offerings and innovation related work. Our Inhalation Anesthesia portfolio is registering good volume growth in our key market of US, said Nandini Piramal, chairperson, Piramal Pharma.

"We look forward to continuing our momentum in Q4 and end the financial year on a positive note,” Piramal added.