Shares of Piramal Pharma Ltd surged 18.32 per cent after having opened strongly at ₹227.90 as against the previous closing of ₹216.70 on wednesday. The stock hit high of ₹260.00 and low of ₹224.05 in the day before closing at ₹256.40.
The pharmaceuticals and wellness company reported a four-fold increase in its net profit after tax in its Q2 earnings report. The company earned a profit of ₹22.59 crore in the Q2 of FY25 as compared to ₹5.02 crore in the same period of FY24.
As per the company’s reports, the revenue from operation grew by 17 per cent in the quarter compared to the last year, primarily driven by robust growth in ‘Contract Development and Manufacturing Organization’ (CDMO) segment of the business.
EBITDA grew by 28 per cent with a margin of 18 per cent compared to the previous year, driven by operating leverage, cost optimization initiatives and a superior revenue mix, said the Piramal Pharma’s report.
“We continue our momentum of delivering healthy revenue growth accompanied by y-o-y EBITDA margin expansion,” said Nandhini Primal, chairperson, Piramal Pharma Limited.
Earlier this month, Piramal Pharma announced that it would invest $80 million (about ₹670 crore) in expanding its Lexington facility in Kentucky, United States.