Strides Pharma Q2 results: Net profit at Rs 93.7 cr, revenue up 20%

US revenue hitting quarterly high, sustained growth across markets among reasons

Bengaluru-based pharmaceutical company Strides Pharma Sciences on Thursday reported a consolidated net profit of Rs 93.7 crore in the September quarter of financial year 2024-25 (Q2 FY25), indicating a turnaround after the firm had reported a loss of Rs 149.45 crore for the same period in the last financial year (Q2 FY24).

 

Revenue from operations in the September quarter rose to Rs 1,201 crore, a 20 per cent year-on-year (Y-o-Y) jump from Rs 999.4 crore reported in Q2 FY24.

 

A major reason stated for growth was the company’s United States (US) revenues for Strides in Q2 FY25 hitting a quarter-high of $75 million (around Rs 630.3 crore), growing at 26.2 per cent Y-o-Y.

 

 

“The September quarter also demonstrated sustained growth across all markets, fuelled by new product launches,” the company stated in a regulatory filing.

 

The company’s revenue from other regulated markets (non-US) also registered a 6 per cent Y-o-Y growth to $41 million (around Rs 346.4 crore).

 

In a joint statement on the results, Arun Kumar, founder and executive chairperson, and Badree Komandur, managing director (MD) and group chief executive officer (CEO), Strides Pharma, said that the company has continued to deliver on the momentum built over several preceding quarters and delivered another strong quarter.

 

“Strong Y-o-Y improvement in absolute Ebitda and Ebitda margins reflects our continued focus on operational efficiency and profitability,” they added.

 

Strides Pharma’s consolidated earnings before interest, tax, depreciation, and amortisation (Ebitda) increased by 31 per cent to Rs 235.8 crore in the September quarter, with the Ebitda margin coming in at 19.6 per cent, compared to 17.5 per cent for the same period last year.

 

On a sequential basis, the company exhibited a 37 per cent rise in net profit and a 10.4 per cent rise in revenue from Rs 68.3 crore and Rs 1,087.5 crore reported in Q1 FY25, respectively.

 

Strides Pharma announced a market update during trading hours. The company’s shares closed at Rs 1,534.65, falling 1.54 per cent on the Bombay Stock Exchange (BSE).