AstraZeneca Pharma tumbled 5.12% to Rs 6,768 after the pharmaceutical firm's net profit declined 26.62% to Rs 38.43 crore in Q2 FY25 as compared with Rs 52.37 crore posted in Q2 FY24.
Revenue from operations jumped 31.16% year on year (YoY) to Rs 408 crore in the quarter ended 30 September 2024, by increase in demonstrating companys focus on improving access to patients.
Profit before exceptional items and tax stood at Rs 51.03 crore in second quarter of FY25, down 10.4% YoY. The firm reported exceptional profit of Rs 16.43 crore in Q2 of FY24.
Total expenses spiked 39.1% YoY to Rs 365.12 crore in Q2 FY25. Cost of material consumed was at Rs 77.15 crore (up 98.84% YoY) while employee benefit expenses were at Rs 68.04 crore (up 4.24% YoY) during the period under review.
Bhavana Agrawal, chief financial officer, AstraZeneca Pharma India, said, We are witnessing a steady and sustainable growth in the country as the Q2 revenue from operations increased by 31% bringing our H1 revenue from operations to Rs 7,955.2 million, driven by our portfolio -oncology, biopharmaceuticals and rare disease. The growth of the company is a derivative of our ambition to bring innovative medicines faster in the country for unmet patient needs.
Dr. Sanjeev Panchal, country president & managing director, AstraZeneca Pharma India, said We are transforming the future of healthcare by unlocking the power of what science can do, for people, society, and planet. With a growth through Innovation strategy, we are constantly working towards expanding access to innovative therapies, progressive access strategies, and making healthcare systems resilient in India.
AstraZeneca Pharma India is engaged in the business of manufacture, distribution and marketing of pharmaceutical products and also provides clinical trial services to an overseas group company.
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