Following the release of FY24 financial results, which showed a growth in the net profit by 128.3 percent YoY, the share price of a science-led biopharmaceutical company jumped by nearly 4.5 percent on BSE to hit an intraday high at Rs. 6,729.6 in the morning trading session of Tuesday.
With a market capitalisation of Rs. 16,012.75 crore, AstraZeneca Pharma India Limited has delivered positive returns of nearly 34.8 percent in six months, while about 97 percent in the last one year. So far in 2024, the company has given 14.07 percent of positive returns.
The fluctuations in the share prices were observed after the company announced the financial results for Q4 FY23-24 and FY24, through the recent filings with the stock exchanges on Monday post-market hours.
The revenue from operations stood at Rs. 383.2 crore in Q4 FY23-24, indicating a growth of 34.6 percent YoY from Rs. 284.7 crore in Q4 FY22-23, while on a quarter-on-quarter basis, it jumped by 25.3 percent from Rs. 305.8 crore in Q3 FY23-24.
AstraZeneca Pharma witnessed a rise in the net profit by 150 percent QoQ from Rs. 15.8 crore in Q3 FY23-24 to Rs. 39.5 crore in Q4 FY23-24, and gained by 128.3 percent YoY from Rs. 17.3 crore in Q4 FY22-23 to Rs. 39.5 crore in Q4 FY23-24.
The company’s Earnings Per Share or EPS for FY23-24 stood at Rs. 64.6 demonstrating a significant growth of 63 percent, compared to its previous EPS of Rs. 39.7 in FY22-23.
At the Investor’s Day, AstraZeneca announced its new Bold Ambition, setting the stage for 2030 to deliver $80 billion in total revenue.
This will be achieved by launching an expected 20 new medicines by the end of the decade, achieving industry-leading growth, and aiming to be carbon-negative. The company will also significantly grow its current portfolio of biopharmaceuticals, rare disease portfolio, and oncology.
The company’s product sales for the first time crossed Rs. 1000 crore mark, delivering total revenue of almost Rs. 1300 crore with a growth of 29 percent in FY23-24.
In FY23-24, AstraZeneca entered into a strategic collaboration with the Government of Karnataka, National Health Mission, Health & Family Welfare Services, to deploy Qure.ai’s AI-based Lung Cancer screening technology.
This technology can screen a patient for 29 lung diseases in a single chest X-ray, improving diagnostic capabilities.
Further, the company’s Board recommended a final dividend of Rs. 24 per equity share for FY23-24, subject to the approval of shareholders.
Established in 1979, AstraZeneca Pharma India Limited is a global, science-led biopharmaceutical company.
The company focuses on the discovery, development and commercialisation of prescription medicines, primarily for the treatment of diseases in four therapy areas – Oncology, Cardiovascular, Renal & Metabolism and Respiratory and Rare Diseases.
Written by Shivani Singh
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