Strides Pharma Science Ltd. reported robust financial results for the December quarter, with consolidated net profit surging to ₹208.12 crore from ₹90.04 crore in the corresponding quarter last fiscal year. The pharmaceutical company's revenue for the quarter stood at ₹1,194.65 crore as against ₹1,153.67 crore during the year-ago period, representing a growth of 3.6%.
The company's Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the quarter grew by 12.2% year-on-year to ₹235.8 crore, while margins expanded significantly by 150 basis points to 19.7% from 18.2% last year. This margin improvement demonstrates enhanced operational efficiency and cost management during the quarter.
During the third quarter, Strides Pharma sold its investment property consisting of land and building for a consideration of ₹112.87 crore and recorded a profit of ₹102.14 crore as other income. This one-time income contributed substantially to the overall profitability of the quarter.
Strides Pharma has reiterated its US business revenue outlook of $400 million by financial year 2028. For the December quarter, US sales stood at $70 million, nearly the same figure of $73 million during the same quarter last year. The company's ability to maintain its US business outlook despite current market conditions suggests confidence in its long-term growth strategy.
Shares of Strides Pharma gained over 2.5% on Friday, January 30, in response to the December quarter results. The stock is now trading 6% higher after the earnings announcement at ₹857. The pharmaceutical company's stock has demonstrated strong performance over the past 12 months, with shares up 30% during this period, reflecting investor confidence in its operational performance and growth prospects.
