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VMPL
New Delhi [India], February 8: Akums Drugs and Pharmaceuticals Ltd., has announced its consolidated financial results for the quarter ended December 31, 2024, delivering 12% increase in Adjusted EBITDA on year-on-year basis. Key Highlights: For Q3, Operating performance of the company was robust with overall Adj EBITDA growing 12% YoY and Adj PAT growing 15% YoY driven by better profitability in our core CDMO segment. The EBITDA improvement shows our continued improvement in the product mix. API EBITDA losses reduced significantly in Q3 YoY, although prices of cephalosporin APIs still remain low. Additionally, branded formulation business continues to perform well across domestic and export markets. Sanjeev Jain, Managing Director, also shared his views, stating, "Q3 was an exciting quarter for the company. With our focus on establishing Akums' global CDMO footprint, we took a significant step by securing a EUR200 million contract. The contract involves manufacture and supply of products to be sold in European markets. We believe this is the first of many partnerships we will undertake to serve the European market in the years to come." Sandeep Jain, Managing Director, stated, "We continue to be the manufacturing partners of choice for pharmaceutical companies. We have started to see volume green shoots in Q3 compared to Q2. We also in-licensed novel products of Triple hair and Caregen in dermatology and metabolic segment to drive future growth." (ADVERTORIAL DISCLAIMER: The above press release has been provided by VMPL. ANI will not be responsible in any way for the content of the same)
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