Strides Pharma Science Sees Remarkable Turnaround with Q1 Profits

Strides Pharma Science reported a significant profit of Rs 84 crore for Q1 ending June 30, compared to a loss of Rs 29.5 crore in the same period last year. Revenue grew to Rs 1,087 crore. The company aims to continue this growth with a focus on digitisation, automation, and ESG.

Strides Pharma Science on Monday announced a notable profit of Rs 84 crore for the first quarter ending June 30, a substantial turnaround from the Rs 29.5 crore loss reported in the corresponding quarter of the previous fiscal year.

The company's revenue for the period surged to Rs 1,087 crore, up from Rs 932 crore in the year-ago quarter, according to a statement from Strides Pharma Science.

Founder and Executive Chairperson, Arun Kumar, attributed the strong performance to the company's focus on profitability, efficiency, and growth, which has enabled it to surpass the projected timelines for its FY25 outlook.

Additionally, MD and Group CEO, Badree Komandur, highlighted the company's increased emphasis on digitisation, automation, and ESG (Environmental, Social, and Governance) to enhance compliance and business outcomes.

On the BSE, shares of Strides Pharma Science rose by 1.15 per cent, closing at Rs 1,033.75 per share on Monday.

(With inputs from agencies.)