Strides Pharma reports turnaround Q2 numbers

Strides Pharma Science reported a consolidated net profit of Rs 93.23 crore in Q1 FY25 as against a net loss of Rs 131.34 crore posted in Q2 FY24.

Revenue from operations stood at Rs 1201.1 crore in the quarter ended September 2024, registering a growth of 20.17% from Rs 999.43 crore posted in the quarter ended September 2023.

Profit before exceptional items and tax was at Rs 131.54 crore in Q2 FY25, zoomed 161.61% from Rs 50.28 crore recorded in Q2 FY24.

The company reported an exceptional loss of Rs 3.87 crore during the quarter.

The firm reported quarterly EBITDA of Rs 235.80 crore in Q2 FY25, registering a growth of 30.92% year on year. EBITDA margin improved to 19.6% in Q2 FY25 as compared to 17.5% recorded in the corresponding quarter previous year.

Gross margin grew by 15.6% YoY to Rs 703.20 crore during the quarter. Gross margin reduced by 72bps YoY to 58.5% in the quarter ended September 2024.

US revenues at a historic high of $75m in Q2 FY25, grew 26.2% YoY. The company said that The US business poised to achieve the approximately $400million objective by FY27-28, reaffirming FY25 revenue outlook of $285million - $300million.

Arun Kumar, founder & executive chairperson, and Badree Komandur, MD & group CEO, We continue to deliver on the momentum built over several preceding quarters and delivered another strong quarter. Q2FY25 demonstrated sustained growth across all markets fueled by new product launches. US operations reported highest ever quarterly revenue of $75m in Q2FY25. Strong Y-o-Y improvement in absolute EBITDA and EBITDA margin reflects our continued focus on operational efficiency and profitability.

Strides Pharma Science is engaged in develops and manufactures a wide range of IP-led niche pharmaceutical products.

Shares of Strides Pharma Science shed 0.15% to currently trade at Rs 1551.30 on the BSE.

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