Piramal Pharma Q1 net loss narrows at Rs 88.64 crore

New Delhi: Piramal Pharma Ltd on Friday reported a narrowing of consolidated net loss at Rs 88.64 crore in the first quarter that ended June 30, 2024, on the back of higher sales.

The company had posted a consolidated net loss of Rs 98.58 crore in the same quarter last fiscal, Piramal Pharma said in a regulatory filing.

Consolidated revenue from operations in the quarter under review stood at Rs 1,951.14 crore as compared to Rs 1,748.85 crore in the year-ago period, the company added.

Total expenses in the first quarter were higher at Rs 2,038.16 crore as compared to Rs 1,908.66 crore in the same period a year ago.

"We have had a good start to the financial year with a steady all-round performance...," Piramal Pharma Chairperson Nandini Piramal said.

The company's CDMO (Contract Development and Manufacturing Organisation) business continues to witness sustained order inflows, especially for on-patent commercial manufacturing, she added.

"We are also seeing good demand for our differentiated offerings with an increase in customer enquiries and visits. In our CHG (Complex Hospital Generics) business, our planned expansion for inhalation anaesthesia portfolio is on track and is expected to get commercialised in FY26," Piramal said.