Piramal pharma shares down 10% on weak operational performance
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The company reported 155 percent year-on-year (YoY) decline in Q3FY23 consolidated net loss at Rs 90 crore
Piramal Pharma
Total number of active equity schemes that held the stock: 8
A sample of active schemes that newly added the stock: Quant Mid Cap, Mahindra Manulife Large Cap Pragati Yojana and Taurus Flexi Cap Fund
The shares of Piramal Pharma Limited opened lower on February 9 after the company reported its Q3FY23 results. At 12:02 pm, the stock was trading 10 percent lower at Rs 88.85 apiece on the NSE.
The company reported a 11 percent year-on-year (YoY) growth in revenue from operations at Rs 1,716 crore, while gross margin contracted 90bps to 64 percent as a result of change in product mix.
The consolidated net loss was reported at Rs 90 crore, which is down 155 percent YoY from Rs 163 crore reported for the corresponding quarter last year.
EBITDA for the quarter stood at Rs 170 crore falling 56 percent YoY while EBITDA margin was at 10 percent reducing 1,500 bps as a result of high operating expenses, including raw material cost, energy prices, wage inflation and marketing cost.
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