Gland Pharma Q2 net declines 16% to ₹163.5 cr. 

Generic injectable-focused Gland Pharma consolidated net profit declined almost 16% to ₹163.5 crore for the quarter ended September compared to the ₹194 crore in the year earlier period.

The lower net profit came on a more than 2% increase in the revenue from operations at ₹1,405.8 crore (₹1,373.4 crore). On Monday, the company’s shares closed 2.13% lower at ₹1,609.85 apiece on the BSE.

“Our core regulated markets, particularly the United States, continue to perform well. Overall performance is in line with expectations. Looking ahead, we remain focused on our strategic priorities, which include entering new markets and building a solid foundation for future growth,” Executive Chairman and CEO Srinivas Sadu said in a release.

A segment wise revenue break up presentation, by the company, showed a 3% increase year on year in the key U.S. market to ₹754.7 crore; a 1% decline in the contribution from Europe at ₹245.9 crore; 45% increase to ₹51.5 crore in the other core markets of Canada, Australia and New Zealand; and flattish growth in Rest of the World as well as India markets.

Published - November 04, 2024 08:47 pm IST