Friday, Sep 13 2024 | Time 17:02 Hrs(IST)
image
Business EconomyPosted at: Aug 6 2024 9:31PM


Gland Pharma Q1 results: Profit falls 26 pc misses estimates

Hyderabad, Aug 6 (UNI) Gland Pharma Limited, a generic injectable-focused pharmaceutical company, on Tuesday reported a 26 percent down in its consolidated net profit of Rs 1,438 million for the first quarter ended on June 30, 2024, as against Rs 1,941 million in the corresponding period in the previous year.
Consolidated revenue from operations increased by 16 percent to Rs 14,017 million from Rs 12,087 in the same period of the last year, the Hyderabad-based pharma company said in a release here.
Commenting on the results, Srinivas Sadu, Executive Chairman and CEO of Gland Pharma, said, “We reached INR 14,017 million in total revenue, a 16 percent increase from Q1 FY24. This growth aligns with our projections and is primarily driven by the US market, which saw a 27 percent revenue increase led by existing and certain new products.”
“Our base business EBITDA margins were at 29 percent, and consolidated EBITDA margins for the quarter were 19 percent, mainly affected by Cenexi," he said. We're confident in our ability to meet our fiscal year goals and are excited about the growing opportunities and even stronger results expected in the coming quarters, he added.
The total cost incurred during the quarter was INR 637 million, the release said.
Eight molecules, including Eribulin mesylate, Plerixafor, Nelarabine, and Edaravone, were launched in the US market, while nine products have been filed to date, of which three have been approved and one has been commercialised in the Chinese market.
Six complex injectiable approvals have been received out of 19 molecules under development to date.
To accelerate growth, we are exploring acquisitions, licensing, and co-development opportunities.
The USFDA made two surprise inspections of our manufacturing sites in Hyderabad. The inspections concluded with two and three observations at Dundigal and Pashamylaram (outskirts of Hyderabad), respectively.
As previously communicated, these observations are procedural and do not affect our compliance status, the release added.
UNI KNR AKS
Please log in to get detailed story.
Tags: #Gland Pharma Q1 results: Profit falls 26 pc misses estimates
More News

Amazon India hosts Seller Connect event in Kolkata

13 Sep 2024 | 4:03 PM

Kolkata, Sep 13 (UNI) Amazon India has successfully hosted its annual Amazon Seller Connect event with over 100 sellers here and provided them with a platform to engage and interact with its leadership, while covering different nuances of selling online with Amazon.

see more..

Over 4,500 sellers empowered with insights and strategies at Flipkart Seller Conclaves

13 Sep 2024 | 3:53 PM

Kolkata, Sep 13 (UNI) Flipkart, India’s homegrown e-commerce marketplace, has successfully concluded the seller conclaves across nine major cities in India, as part of Flipkart`s pan-India initiative, boosting opportunities for over 1.4 million entrepreneurs and sellers to grow their business.

see more..

AP: RINL receives CII-GBC National Energy Leader Award for the sixth consecutive year

13 Sep 2024 | 2:11 PM

Visakhapatnam, Sep 13 (UNI) Rashtriya Ispat Nigam Limited (RINL), the corporate entity of Visakhapatnam Steel Plant (VSP) has once again set a remarkable benchmark in energy efficiency and conservation, by receiving the prestigious National Energy Leader Award from the Confederation of Indian Industry – Green Business Centre (CII-GBC).

see more..
USD down ; Euro, Pound, Yen up

USD down ; Euro, Pound, Yen up

13 Sep 2024 | 11:35 AM

Mumbai, Sep 13 (UNI) Following were the indicative currency rates and travellers' cheques
buying and selling rates.

see more..
Rupee gains 6 paise

Rupee gains 6 paise

13 Sep 2024 | 10:49 AM

Mumbai, Sep 13 (UNI) The Rupee on Friday gained 6 paise at 83.92 against USD in opening trade on selling of US Dollar by bankers and exporters
dealers at the Foreign exchange said.

see more..
image