Astrazeneca Pharma India shares plunge over 7% as company incurs net loss in Q1

The drugmaker incurred a net loss of ₹11.8 crore during the quarter under review, as compared to a net profit of ₹54 crore clocked in the year-ago period.

After the earnings report was released, Astrazeneca's shares faced a steep decline. The scrip plunged to an intraday low of ₹6,540 apiece on the National Stock Exchange (NSE), down around 7.8% as against the previous session's close.

The stock last traded on the NSE at ₹6,622.65, which was down 6.6%.

Astrazeneca's revenue climbs

Even though Astrazeneca entered into loss during the quarter under review, its revenue climbed 31.2% to ₹387.5 crore. In the quarter ended June 2023, the revenue stood at ₹295.4 crore.

The company's earnings before interest, taxes, depreciation and amortisation (EBITDA) came in at ₹38 crore, down 43.4% from ₹67.3 crore in the year-ago period.

The EBITDA margin dropped by 1,300 basis points to 10% in Q1FY25, as compared to 23% in Q1FY24.

"It’s a strong start of the year with 31% revenue growth and double-digit profit margin (before exceptional item and tax)...We are continuously pushing the boundaries of science and are well positioned for consistent value creation for our customers and shareholders," Bhavana Agrawal, Chief Finance Officer of Astrazeneca Pharma India, said.