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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
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