Strides Pharma Science Q1 PAT Rises 56.7% to Rs 165.5 Cr

New Delhi: Strides Pharma Science Ltd on Friday reported a 56.7 per cent rise in profit after tax at Rs 165.5 crore in the first quarter ended June 30, on the back of strong growth in markets excluding the US.

The company had posted a profit after tax of Rs 105.6 crore in the corresponding quarter last fiscal, Strides Pharma Science Ltd said in a regulatory filing.

Revenue in the first quarter stood at Rs 1,265.4 crore as against Rs 1,119.7 crore in the year-ago period, it added.

“Our investments in ex-US (excluding US) markets over the past few years are now yielding strong results, delivering 17 per cent YoY growth and reinforcing the strength of our diversified business strategy,” Strides Pharma Science MD & Group CEO Badree Komandur said.

Ex-US markets revenue was at Rs 587.5 crore, up 17 per cent YoY, driven by strong performance across markets, while US business remained steady at Rs 628.2 crore, up 4 per cent, the company said.

He further said in Q1 the company’s EBITDA grew around 5 per cent YoY to Rs 229.8 crore “despite Rs 13.1 crore impact from elevated operating and freight cost arising from the ongoing geopolitical situation”.

Komandur said,”We remain focused on mitigating these pressures through continuous cost optimization initiatives.”

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