Akums Drugs and Pharmaceuticals Ltd reported a standalone net profit of ₹42 crore for the quarter ending June 30, 2024; as against a net loss of ₹19 crore in the year-ago-period.
The company reported a revenue of ₹317 crore for the period under review. Revenues were near flat on a y-o-y basis at ₹316 crore.
On a consolidated net profit for the period was ₹61 crore; as against a ₹19 crore loss in the year-ago-period. Revenue for the period was ₹1019 crore, up 5 per cent y-o-y; as against ₹970 crore the corresponding quarter last fiscal.
The company’s CDMO (contract development and manufacturing organisation) segment which accounted for 77 per cent of revenue stood at ₹782 crore, up 5.6 per cent y-o-y. This was driven by strong growth in sales volume of 13.9 per cent, Akums said in a statement to the bourses.
Branded and generic formulations segment saw revenues to the tune of ₹167 crore, down 13 per cent y-o-y. There were curtailed losses in trade generics business.
The API segment saw revenue improvement of 83 per cent y-o-y to ₹70 crore for the period under review.
The debt to equity improved to 0.25 times with Net debt at ₹213 crore.
- Also read: Akums Drugs ends 17% higher on debut
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.