New Delhi, Jan 29 (PTI) Piramal Pharma on Thursday reported a consolidated net loss of Rs 136 crore for the third quarter ended December 31, 2025, hit by inventory destocking and slower order inflows.
The company posted a net profit of Rs 4 crore in the October-December quarter of last fiscal.
Revenue from operations declined to Rs 2,140 crore in the third quarter as compared with Rs 2,204 crore in the year-ago period, the Mumbai-based firm said in a statement.
"FY26 has been a muted year for the company due to impact of inventory destocking and slower early-stage order inflows in H1FY26 in our CDMO business," Piramal Pharma Chairperson Nandini Piramal stated.
The company noted that revenue growth in the third quarter was impacted by inventory destocking in one large on-patent commercial product by customer, slower early-stage order inflows in the first half of the current fiscal due to inconsistent recovery in US biopharma funding along with uncertainties on global trade policies, and regulatory delays in inhalation anesthesia for ex-US markets from Digwal facility.
"However, in recent times, we are seeing early signs of recovery with pick-up in RFPs and order inflows on the back of improved biopharma funding and increased M&A activities in the US healthcare space," Piramal stated.
In the Complex Hospital Generics (CHG) business, the company is investing in new products and expanding presence in the ex-US markets.
Acquiring niche brands like Kenalog, which is synergetic to the current business, is an important step in this direction, she added.
The drug firm said its subsidiary Piramal Critical Care B.V. has entered into definitive agreement for acquisition of Kenalog and its associated brands, from Bristol-Myers Squibb Company for an upfront consideration of USD 35 million, and contingent consideration up to an amount not exceeding USD 65 million, payable on agreed operational and financial milestones.
Kenalog, a branded commercial injectable product containing Triamcinolone Acetonide, is a synthetic corticosteroid with anti-inflammatory, antipruritic & antiallergic action and is indicated as an adjunctive therapy in acute gouty arthritis, rheumatoid arthritis, and other conditions to treat inflammation.
It is currently marketed by Bristol-Myers Squibb across 15 countries under multiple trademarks such as Kenalog, Kenacort, Trigon, and Adcortyl.
"Despite the slower growth in FY26, we continue to believe in long term growth prospects of our businesses and back them with timely investments in capacities and capabilities. Q4 has been historically the strongest quarter for the Company, and we expect this trend to continue this year as well," Piramal stated.
The company said the USD 90 million investment to expand Lexington and Riverview facilities, is on track. Piramal Pharma shares were trading 5.22 per cent up at Rs 162.30 apiece on BSE.