Srinivas Sadu appointed CEO & Chairman of Gland Pharma

10 Jun 2024 , 01:33 PM

Gland Pharma Ltd, situated in Hyderabad, announced on Friday (June 7) the appointment of Srinivas Sadu as Executive Chairman and CEO, effective June 10, 2024.

Sadu, who has been Managing Director (MD) and CEO since April 25, 2019, offer over two decades of extensive experience to his current position, according to a stock exchange filing.

He took over as MD and CEO of the company on April 25, 2019, and has played an important role in its growth and success since then. 

Gland Pharma stated that Srinivas Sadu started working with the company in 2000 and ascended through the ranks to become the chief operating officer in 2011.

Gland Pharma said that its consolidated profit after tax (PAT) increased more than twofold to ₹192 Crore in the March quarter. The Hyderabad-based drug firm declared a profit after tax (PAT) of ₹79 Crore last year.

Revenue from operations increased to ₹1,537 Crore in Q4 FY24, up from ₹785 Crore the previous year, according to the report. The company recorded a PAT of ₹772 Crore for the fiscal year ending March 31, 2024, compared to ₹781 Crore in 2022-23.

At around 11.15 AM, Gland Pharma was trading 1.59% higher at ₹1,887.25, against the previous close of ₹1,857.80 on NSE. The counter touched an intraday high and low of ₹1,892, and ₹1,850.22, respectively.

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