Gland Pharma stock hits new all-time high after logging double-digit growth in Q1 PAT to Rs351cr

The company's consolidated revenue was at Rs1,153.9cr in Q1FY22 increasing from Rs884.2cr in the corresponding period of the previous year.

Jul 22, 2021 01:07 IST India Infoline News Service

Quarterly Results
Gland Pharma recorded an 11.83% rise in consolidated net profit to Rs350.7cr for the quarter ending June 2021 (Q1FY22) compared to a profit of Rs313.6cr a year ago same period.

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. 

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