The company's consolidated revenue was at Rs1,153.9cr in Q1FY22 increasing from Rs884.2cr in the corresponding period of the previous year.
Srinivas Sadu, MD & CEO of Gland Pharma said “In spite of the challenges from the second wave of COVID in the country, in terms of manpower availability and supply chain bottlenecks, Gland Pharma has managed to deliver strong quarterly results. The revenue for the quarter stood at Rs11,539 Mn, which is a Y-o-Y revenue growth of 31%, with a PAT margin of 29%, which is Rs3,507 Mn. Our execution capabilities, be it uninterrupted commercial supplies, project commissioning or new product launches, is what underpins our strong performance in this quarter. It was an important milestone for the company to launch our first set of Penem products for the US market during the quarter. The dedicated suite for vaccine drug product fill finish is now ready for vaccine commercial production, while the tech transfer for the drug substance manufacturing is ongoing. We continue to support the nation by ramping up production of essential COVID drugs.”
At around 1.42 PM, Gland Pharma was trading at Rs4088.85 per piece up by Rs286.65 or 7.5% on Sensex.
The stock has touched a new 52-week high of Rs286.65 per piece earlier today.