Piramal Pharma Shares Hit 52-Week High on Impressive Q3 Results

Shares of Piramal Pharma reached a 52-week high on the BSE on Wednesday (January 31) following the release of the company’s strong Q3FY24 results.

In the recently reported quarter, Piramal Pharma showcased a significant turnaround, recording a consolidated net profit of Rs 10 crore compared to a loss of Rs 90 crore in the same period a year ago.

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The company’s revenue for Q3 reached Rs 1,959 crore, marking a substantial 14 percent YoY increase from Rs 1,716 crore in the corresponding quarter of the previous fiscal. The earnings before interest, tax, depreciation, and amortisation (EBITDA) for the quarter ended December 31 surged to Rs 268 crore, up 3.08 times from Rs 87 crore, with the margin expanding to 13.6 percent from 5.1 percent YoY.

As of 1:36 pm, Piramal Pharma shares continued their upward trajectory, trading 3.13 percent higher at ₹143.35.