Gland Pharma's Q2 Revenue grew by 30% with Net Profit growth of 38%

The company maintained a healthy EBITDA margin of 38% and PAT margin of 27% during the quarter.

Oct 22, 2021 04:10 IST India Infoline News Service

Quarterly Results
Gland Pharma Limited, a generic injectable focused pharmaceutical company, today announced its financial results for the second quarter and half year ended September 30, 2021.

Revenue from operations during the second quarter of the financial year 2022 grew by 30% yoy to Rs10,805 million compared to Rs8,315 million in the corresponding quarter of the previous year. PAT was at Rs3,021 million in Q2FY22 up 38% yoy from Rs2,189 million in Q2FY21. The Company maintained a healthy EBITDA margin of 38% and PAT margin of 27% during the quarter.

Revenue from operations for the six months ended September 30, 2021 grew by 30% to Rs22,344 million as compared to Rs17,157 million the corresponding period of previous year. PAT in H1FY22 increased 23% yoy to 6,527 million from Rs5,324 million in H1FY21.

“The growth in revenue was on account of launch of new products# and growth in existing products. Our key markets, US, Canada, Europe and Australia registered a growth of 25% and accounted for 62% of our revenue during Q2FY22. The strength of our wide portfolio helped us to sustain growth amidst changing market demand as COVID-19 hospitalizations declined.

Rest of the World markets have seen a robust growth of 59% in line with our increased focus on geographic expansion. This is driven by increased penetration by forming new partnerships in various countries. India accounted for 17% of Q2FY22 revenue and witnessed a 19% yoy growth for the quarter,” company said in a filing on Friday.

Commenting on the results, Srinivas Sadu, MD & CEO of Gland Pharma said “We delivered a strong performance this quarter Q2 FY22, with a revenue of Rs10,805 million, which is a yoy revenue growth of 30%. With a PAT of Rs3,021 million, we saw a yoy PAT growth of 38% for the quarter. We continue to focus on revenue diversification across geographies, which is helping us further improve our manufacturing efficiencies because of benefits from scale as well as de-risking the business.

With declining COVID-19 hospitalizations, we observed a shift in product mix. Our wide therapeutic portfolio helped us to sustain growth despite changing market demand. Our rich R&D pipeline is helping us maintain strong momentum of new product launches. We are on track to make four complex injectable filings in this financial year.”

Gland Pharma stock trade on Friday ended at Rs3720 per piece up Rs102.10 or 2.82% on the BSE.

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