Q2 Results: Piramal Pharma Registers Loss Of Rs 37 Cr, EBITDA Rises By 2.2%

Piramal Pharma, an Indian pharmaceuticals company, today announced its consolidated results for the Second Quarter and Half Year ended 30th September 2022. The pharma company in the second quarter has reported a net loss of Rs 37 crores in its first quarterly results after getting listed on BSE. Piramal pharma had registered a net profit of Rs 37 crores in the previous year's second quarter. 

On the other hand, the company’s consolidated revenue grew by 8.2 per cent quarter on quarter to be recorded at Rs 1,720 crores against the company’s corresponding quarter’s earnings in the previous year which stood at Rs 1,578. 

Piramal’s EBITDA for the September quarter rose by 2.2 per cent and stood at Rs 219 crore up from Rs 214 crore registered in the second quarter of the previous year. The EBITDA margin for the current quarter was posted at 13 per cent against 14 per cent recorded in the second quarter of last year.

“We announce our first results post demerger as an independent and focused pharma company. For the quarter and half year that ended September 2022, our business has delivered a resilient performance despite multiple internal and external challenges. We expect to deliver a much-improved performance in the second half of the current financial year. Historically we have had a greater skew of sales and profits in the second half of the year and this year is no different,” said Nandini Piramal, Chairperson, Piramal Pharma Limited.

Piramal said that the company has vision to grow all its businesses to a significant scale over the medium term and have strong growth levers in place for each of them. "We continue to make investments to drive growth in these businesses," Piramal added.

The company in a statement said that it has launched 10 new products and 11 new SKUs (Stock Keeping Unit) as of now in 2022

The company said it is witnessing continued strong inflows of Request for Proposal (RFP) and an increase in customer audits in the contract development and manufacturing business, however, it is experiencing slower decision-making by the customers due to macro-economic pressures.

The company’s stock was trading 3.39 per cent lower after the announcement of the quarterly results at Rs 158.40 a piece as of 10:50 IST.