AstraZeneca Pharma India Q4: PAT up 89% QoQ

Key takeaways from the latest data

AstraZeneca Pharma India Ltd (NSE: ASTRAZEN) has reported a sharp sequential improvement in profitability for the quarter ended Mar’25, with operating income and net income rising strongly versus the previous quarter. At the same time, some trackers have maintained a cautious stance on the stock, flagging a “Sell” rating, a “flat” financial trend tag, and valuation concerns such as a high PEG ratio.

The data set also includes a separate update for the quarter ended June 2025 (Q1 FY26), where net profit declined sequentially despite revenue growth, largely alongside higher expenses and lower other income, as per a regulatory filing cited in a media report.

Quarterly performance: Mar’25 vs Dec’25

As per the quarterly table provided (figures in ₹ crore except per share values), AstraZeneca Pharma India’s Mar’25 quarter showed higher profitability compared to Dec’25, even though total revenue was lower.

Operating income rose to ₹63.00 crore in Mar’25 from ₹42.47 crore in Dec’25. Net income increased to ₹58.25 crore from ₹32.59 crore over the same period. Net income before taxes also moved up to ₹78.47 crore from ₹46.54 crore.

Costs moved in mixed directions. Total operating expense is listed at ₹417.48 crore in Mar’25 versus ₹569.10 crore in Dec’25, while depreciation and amortization rose to ₹17.69 crore from ₹3.84 crore.

What changed in costs and margins

The same table shows other operating expenses total of ₹47.35 crore in Mar’25, down from ₹69.47 crore in Dec’25. Selling, general and administrative expenses are shown at ₹87.15 crore in Mar’25 compared with ₹130.88 crore in Dec’25.

Earnings per share also improved in the period. Diluted normalized EPS is listed at 25.01 in Mar’25 versus 12.63 in Dec’25.

However, total revenue is shown as ₹480.48 crore in Mar’25 versus ₹611.57 crore in Dec’25, indicating that the profit improvement came alongside a revenue dip in the table’s comparison.

Snapshot table: reported quarterly metrics

All figures are as provided in the source table.

Market view: Sell rating and “flat” trend tag

The provided notes cite a current “Sell” rating on AstraZeneca Pharma India, indicating a cautious stance from the referenced platform. The company’s financial trend is described as “flat” in the same context.

The note also states that profit after tax (PAT) declined to ₹31.55 crore, down 45.6% versus the previous four-quarter average. Alongside that, cash and cash equivalents are stated at ₹399.94 crore, described as the lowest in the half-year period. PBDIT is also mentioned at ₹44.83 crore, described as a low.

Despite these points, the same section notes that the company’s profits have risen 16.3% over the past year, suggesting a mixed picture across timeframes.

Valuation flags mentioned in the data

A key valuation metric highlighted is a PEG ratio of 6.1, which the note interprets as earnings growth not keeping pace with the stock’s valuation. Separately, the broader valuation assessment is described as “Very Expensive” in the material provided.

These are not earnings numbers, but they frame how some market participants may be weighing profitability against price expectations.

Q1 FY26 update: profit down despite higher revenue

A separate update (Mumbai, Aug 14, IANS) says AstraZeneca Pharma India reported a 4.12% sequential decline in net profit for Q1 FY26 to ₹55.8 crore from ₹58.2 crore in the previous quarter (Q4 FY25).

In the same filing-based report, revenue from operations rose 9.56% sequentially to ₹526.3 crore from ₹480.4 crore. Other income fell 30.43% to ₹11.2 crore from ₹16.1 crore. Total income increased 8.23% to ₹537.5 crore from ₹496.6 crore.

Expenses rose faster than revenue in that quarter, with total expenses at ₹462.4 crore versus ₹412.4 crore in the previous quarter, as per the report.

Another quarterly trail: revenue growth with margin pressure

The dataset also describes a multi-quarter revenue uptrend, noting net sales of ₹526.31 crore for the quarter ended June 2025 and stating it extended a sequential growth streak across seven quarters. It also states operating profit excluding other income at ₹81.11 crore, implying an operating margin of 15.41%.

That note adds that the operating margin narrowed by 257 basis points sequentially from 17.98% in the previous quarter, and that the PAT margin compressed to 10.61% from 12.12%.

On a half-year basis for H1 FY26, the data states net sales of ₹1,006.79 crore and net profit of ₹114.08 crore, with year-on-year growth of 30.52% in net sales.

Timeline context: site closure provisions and exceptional items

The notes list earlier quarterly commentary dated 27 Nov 2025, including references to a “major provision for site closure” that impacted profit, and an “exceptional expense for site closure” that led to a quarterly net loss despite higher revenue.

Another line for the same date mentions “32% revenue growth and robust product launches” supporting strong FY 2024-25 results. Together, these items indicate that one-off charges have played a role in recent quarter-to-quarter volatility in profits.

What investors can track from here

Across the provided numbers, two threads stand out. One is the sharp variability between revenue and profitability across quarters, with Mar’25 showing a strong profit rebound versus Dec’25 in the table, while Q1 FY26 shows profit pressure despite higher revenue.

The second is the emphasis on valuation and cash position in the “Sell” rationale, including the cited cash balance of ₹399.94 crore and a PEG ratio of 6.1. Investors following ASTRAZEN will likely monitor the next set of results for the direction of expenses, the contribution of other income, and whether margins stabilise alongside the revenue trajectory.

Conclusion

AstraZeneca Pharma India’s reported quarterly figures show strong sequential profit improvement in Mar’25 versus Dec’25 in the provided table, while Q1 FY26 data points to profit softness amid higher expenses and lower other income. The referenced “Sell” rating as of 06 May 2026 underscores that, alongside earnings, valuation and cash trends remain central to the current market narrative.