Strides Pharma reports profit of Rs 68.3 crore in Q1, revenue up 16%

As per the company statement, US revenues for Strides in Q1 FY25 stood at a quarter-high of $70 million (about Rs 586 crore)

Bengaluru-based pharmaceutical company Strides Pharma Science on Monday reported a net profit of Rs 68.3 crore in the first quarter of 2024-25 (Q1FY25). The firm had reported a loss of Rs 9.4 crore in the same quarter of the previous financial year (Q1FY4).

The company’s metrics improved sequentially too. In the fourth quarter of 2023-24 (Q4FY24), it had reported a net profit of Rs 10 crore. Which suggested that it has witnessed about 580 per cent sequential jump in its net profit.

The revenue for the Q1FY25 came in at Rs 1,085.7 crore, up 16.6 per cent year-on-year (Y-o-Y).

“Our emphasis on profitability, efficiency, and growth has led to a strong performance across markets, allowing us to deliver superior returns ahead of the projected timelines for our FY25 outlook. We are confident of sustaining the momentum with continuous improvement in the quality of business,” said a statement quoting Arun Kumar, Founder & Executive Chairperson, and Badree Komandur, MD & Group CEO, Strides.

“The company achieved critical thresholds of 20% EBITDA margin, Rs 683 million of reported PAT and 2.3 times of Debt/EBITDA ratio. The company has increased its focus on digitisation, automation, and ESG for better compliance and business outcomes,” according to the statement.

Strides Pharma EBITDA (earnings before interest, taxes, depreciation, and amortisation) grew by 28.7 per cent Y-o-Y to Rs 217 crore with an EBITDA margin at 20 per cent, a growth of 187bps annually. 

The company said that the US revenues for Strides in Q1FY25 stood at quarter-high of $70 million (about Rs 586 crore). 

Strides Pharma announced a market update during trading hours. The company’s shares closed at Rs 1,033.75, rising 1.15% on the BSE. The firm specialises in the production of pharmaceutical products, over-the-counter drugs, and nutraceuticals.