pattern photo
YEARS
Piramal Pharma is making capital expenditure of around $85 million in the current financial year on various initiatives including capacity expansion, maintenance and decongesting the CDMO site. Company chairperson Nandini Piramal has said this. The company aims to cross two billion dollars in revenue by the financial year 2029-30.
New Delhi. Piramal Pharma is making capital expenditure of around $85 million in the current financial year on various initiatives including capacity expansion, maintenance and decongesting the CDMO site. Company chairperson Nandini Piramal has said this. Headquartered in Mumbai, this company aims to take its revenue beyond two billion dollars by the financial year 2029-30. The company has already invested approximately $30 million in the first half of the current financial year. “It is expected that the capital expenditure this year will be at the same level as last year, which is about $85 million,” Piramal told PTI.
He said a part of the capital expenditure is planned for the domestic market, while some part of it will also go to the US business. “Part of this (about $30 million) is maintenance capital expenditure, and the rest will be spent on capacity expansion at the Telangana and Dahej (Gujarat) plants and addressing some CDMO site bottlenecks,” Piramal said. The company's consolidated net profit for the September quarter has more than quadrupled to Rs 23 crore. The drugmaker also reported revenue of Rs 2,242 crore for the second quarter, compared to Rs 1,911 crore in the same period a year ago.
Disclaimer: Prabhasakshi has not edited this news. This news has been published from PTI-language feed.
other news
