During the corresponding quarter, Piramal Pharma recorded a net profit of ₹50.1 crore, the company said in a regulatory filing. The company’s operating revenue increased 18 per cent to ₹2,552.4 crore from ₹2,163.6 crore in the corresponding period of the previous fiscal.
At the operational level, EBITDA jumped 50.9 per cent to ₹529.9 crore in the fourth quarter of this fiscal, compared to ₹351.2 crore in the corresponding period of the previous fiscal.
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EBITDA margin stood at 20.8% during the reported quarter compared to 16.2% in the corresponding period of the previous financial year. EBITDA is earnings before interest, taxes, depreciation and amortization. Net debt or EBITDA improved from 5.6x at the start of the financial year to 2.9x at the end of FY24.
The Board of Directors has recommended a final dividend of ₹0.11 per equity share of ₹10 each for the financial year ending March 31, 2024, which will be paid or distributed after the 4th Annual General Meeting, subject to the approval of the shareholders of the company.
Nandini Piramal, Chairman, Piramal Pharma, said, “FY24 was a good year for the company with overall improvement, mainly driven by our CDMO business which delivered solid revenue growth of 19% YoY .
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We have seen a significant increase in order intake, particularly for commercial manufacturing under patent, in a challenging financing environment for biotech. Contributions from our innovation-related work and differentiated offerings also increased in FY24.”
The results came after the close of market hours. Shares of Piramal Pharma Ltd ended at ₹150.30, up ₹2.25 or 1.52 per cent on the BSE.
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