AstraZeneca Pharma India Limited achieves growth of 29% for financial year ended March 31, 2024

AstraZeneca Pharma India Ltd., a science-led biopharmaceutical company, has announced robust financial results for the financial year ended March 31, 2024. The Company achieved total revenue of INR 1,330 Cr. registering an impressive 29% growth in revenue.

Financial performance highlights for full year 2023 - 24

- Revenue from Operation for financial year 2023-24 stood at INR 1,296 Cr. with substantial 29% increase.

- Profit Before Tax is INR 220 Cr. registering a commendable 64% growth (PBT before exceptional items at INR 201 Cr., up by 17% compared to previous financial year).

- Earnings Per Share (EPS) for financial year stood at INR 64.6 demonstrating a significant growth of 63%

The Board of Directors, at its meeting dated May 27, 2024, have recommended a final dividend of Rs. 24 per equity share for the financial year 2023-24, subject to approval of shareholders at the Annual General Meeting of the Company.

AstraZeneca India continues to advance its mission of transforming the future of healthcare by unlocking the power of science for the benefit of people, society, and the planet. The Company's commitment to innovation is reflected in its strong pipeline progress, reinforcing its position as a key player in the healthcare industry.

AstraZeneca globally announced its new Bold Ambition during the recently held Investor's Day, seƫng the stage for 2030 to deliver $80 billion in Total Revenue. This will be achieved through significant growth in its existing oncology, biopharmaceuticals and rare disease porƞolio, and by launching an expected 20 new medicines before the end of the decade, achieve industry leading growth and aim to be carbon negative.

Dr. Sanjeev Panchal, Country President and Managing Director, AstraZeneca India, commented, " FY 2023-24 was one of the strongest years for us in the country and we take immense pride in our consistent performance. AstraZeneca India products sales for first time cross INR 1000 Cr mark, delivering total revenue of almost INR ~1300 Cr. with growth of 29% this year. A successful execution of our growth through innovation strategy is helping us propel our ambition to be pioneers in science and lead in specialist disease areasin India. Science is guiding us, and our remarkable pipeline progress with 9 new medicines and indication approvals that we received last year, positions us optimally and we feel motivated to bring more innovative therapies faster and closer to patients in India.

Our scientific progress and great support from different states, peers, and industry stakeholders positions us optimally to achieve our purpose of leaving no patients behind in the therapy areas we are present in and sustainably continue our strive to contribute to people, society, and the planet."

Bhavana Agrawal, Chief Finance Officer, added, "Our strong full year performance is reflection of company's focus on being a specialist organization & strong operational execution. This achievement reflects our relentless pursuit of identifying and capitalizing on opportunities in a dynamic environment. It underscores our dedication to not only achieving financial excellence but doing so in a sustainable and strategic manner."

AstraZeneca India remains committed to driving positive impact through groundbreaking scientific advancements and looks forward to contributing to the well-being of communities.

Shares of AstraZeneca Pharma India Limited was last trading in BSE at Rs. 6441.05 as compared to the previous close of Rs. 6011.75. The total number of shares traded during the day was 4006 in over 1815 trades.

The stock hit an intraday high of Rs. 6580.00 and intraday low of 6053.10. The net turnover during the day was Rs. 25667600.00.

Source : Equity Bulls

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AstraZenecaPharmaIndia INE203A01020 Q4FY24 FY2024 ResultUpdate FY24