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Piramal Pharma announces a year-on-year loss in Q2FY23; after-tax losses total Rs 37.3 crore

Piramal Pharma Limited reported its consolidated results for the Second Quarter (Q2) and Half Year (H1) ending 30th September 2022 on Wednesday. The pharmaceutical company recorded a year-on-year deficit in the second quarter.

According to the company’s statement, it posted after-tax losses of Rs 37.3 crore in the quarter, compared to an after-tax profit of Rs 36.6 crore the previous year. Losses decreased sequentially from Rs 109 crore. Meanwhile, Ebitda was down 12 percent to Rs 173 crore, compared to the projection of Rs 197 crore. Furthermore, the Ebitda margin was 10% rather than 12.5%.

Meanwhile, income from operations increased by 11% to INR 3,202 crore from INR 2,889 crore in H1FY22. The India Consumer Healthcare business expanded by 12% year on year, according to the firm.

“We are pleased to report our first results as an independent and focused pharmaceutical firm following the demerger.” Over the last ten years, we have taken many strategic decisions that have helped us grow and develop our business, establishing Piramal Pharma (PPL) as a worldwide pharmaceuticals leader. Despite many internal and external obstacles, our business maintained a robust performance for the quarter and a half that ended in September 2022. We anticipate a much stronger performance in the second half of the current fiscal year.”We are pleased to report our first results as an independent and focused pharmaceutical firm following the demerger.” Over the last ten years, we have taken many strategic decisions that have helped us grow and develop our business, establishing Piramal Pharma (PPL) as a worldwide pharmaceuticals leader. Despite many internal and external obstacles, our business maintained a robust performance for the quarter and a half that ended in September 2022. We anticipate a much stronger performance in the second half of the current fiscal year.

The pharmaceutical company also announced robust Inhalation Anesthesia (IA) sales in the US market, with ongoing volume growth driving market share gains. Based on a tender calendar, the business released three products during H1FY23, including a Pre-Filled Syringe (PFS) in Germany, and eight SKUs are planned to be launched in various targeted countries during Q3FY23.

In India Consumer Healthcare (ICH), the business released 10 new products and 11 new SKUs in H1FY23. According to the firm, its core brands, Littles and Lacto Calamine experienced a substantial growth of 67 percent and 45 percent, respectively, in H1FY23 YoY, driven by new launches and strong e-commerce momentum.

According to sources, the Mumbai-based pharmaceutical disclosed its first quarterly profits today after separating from Piramal Enterprises Ltd. and going public on Oct. 19.

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