Piramal Pharma Ltd on Wednesday announced its consolidated results for the July-September quarter. The pharma company has reported a consolidated loss of Rs 37.3 crore in the quarter, as against a net profit of Rs 36.6 crore in the corresponding period a year ago signifying a decline of 202 percent.

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The earnings before interest, taxes, depreciation, and amortization (EBITDA) which is the measure of the core profitability for the quarter went down by 12 percent to Rs 173 crore. EBITDA margin stood at 10 percent.

The revenue from operations showed some relief and grew by 11 percent to Rs 3,202 crore in the July-September quarter as compared to Rs 2,889 crore in the quarter that ended September 2021. The India consumer healthcare business grew by 12 percent YoY, stated the company in a regulatory filing.

"For the quarter and a half year that ended September 2022, our business has delivered a resilient performance despite multiple internal and external challenges. We expect to deliver a much-improved performance in the second half of the current financial year.

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We have the vision to grow all our businesses to a significant scale over the medium term and have strong growth levers in place for each of them. We continue to make investments to drive growth in these businesses," Nandini Piramal, chairperson of Piramal Pharma Ltd said in a statement.

Inhalation anaesthesia (IA) sales in the US market were high according to the pharmaceutical company, and advances in market share were driven by volume growth. A Pre-Filled Syringe (PFS) was among the three products the company released during the first half of the financial year 2023. Eight SKUs are anticipated to be released in a number of targeted markets during the next quarter based on a tender calendar.

The company added 10 new goods and 11 new SKUs to India Consumer Healthcare (ICH), which was launched in the first half of the year. The firm claims that its two main brands, Littles and Lacto Calamine, experienced strong growth of 67 and 45 percent respectively in H1FY23 as compared to H1FY22 driven by recent product introductions and strong e-commerce momentum.

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The National Company Law Tribunal (NCLT) had on August 12 this year approved the composite scheme of demerger of the pharma business from Piramal Enterprises Ltd into Piramal Pharma Ltd, and amalgamation of Piramal Pharma's wholly-owned subsidiaries Hemmo Pharmaceuticals Pvt Ltd and Convergence Chemical Pvt Ltd into itself.