Piramal Pharma Announces Q2FY23 YoY Loss; Records post-tax losses of Rs 37.3 crore

Piramal Pharma Limited on Wednesday announced its consolidated results for the second quarter (Q2) and six months (H1) ended September 30, 2022. The pharmaceutical company announced a year-on-year loss in the second quarter.

According to the company’s statement, it reported post-tax losses of Rs 37.3 crore in the quarter, compared to an after-tax profit of Rs 36.6 crore a year earlier. Sequentially, losses decreased by Rs 109 crore. Meanwhile, Ebitda fell by 12% to Rs 173 crore, compared to the forecast of Rs 197 crore. Moreover, the Ebitda margin was 10% against 12.5%.

Meanwhile, operating revenue increased by 11% to INR 3,202 crore from INR 2,889 crore in the first half of FY22. India Consumer Healthcare business grew by 12%, according to the company. year-on-year.

“We are announcing our first results after the split as an independent and focused pharmaceutical company. Over the past 10 years, we have made several strategic choices that have helped grow and grow our business and make Piramal Pharma (PPL) a leading global pharmaceutical player. For the quarter and a half that ended in September 2022, our business delivered resilient performance despite multiple internal and external challenges. We expect to achieve a significantly improved performance in the second half of the current fiscal year. Historically, we’ve had a bigger sales and earnings bias in the second half and this year is no different. We have the vision to develop all our activities on a significant scale in the medium term and have put in place solid growth levers for each of them. We continue to invest to drive the growth of these companies,” said Nandini Piramal, President of Piramal Pharma Limited in a statement.

The big pharma company also saw strong sales of inhalation anesthesia (IA) in the US market, with continued volume growth driving market share gains. The company launched three products in the first half of FY23, including a prefilled syringe (PFS) in Germany and eight SKUs that are expected to launch in various targeted markets in the third quarter of FY23 based on of a tender schedule.

In India Consumer Healthcare (ICH), the company added 10 new products and 11 new SKUs launched during H1FY23. According to the company, its key brands, Littles and Lacto Calamine, saw robust growth of 67% and 45% respectively in the first half of FY23, driven by new launches and excellent e-commerce traction. .

According to reports, after parting ways with Piramal Enterprises Ltd. and having gone public on October 19, the Mumbai-based drugmaker today announced its first quarter results.

READ ALSO | Piramal Pharma publishes its FY21–22 sustainability report to present its performance on ESG parameters

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