Gland Pharma’s third quarter net profit rises 34% to Rs 273 cr

Gland Pharma's third quarter net profit rises 34% to Rs 273 cr

“While our key market US grew by 23 per cent during the quarter, our focus on geographical diversification is showing robust results with a y-o-y growth of 88 per cent in the Rest of the World markets during the quarter,” Gland Pharma MD & CEO Srinivas Sadu noted.

Gland Pharma on Friday posted a 34 percent increment in its combined benefit after tax at Rs 273 crore for the second from last quarter ended December 31, 2021, riding on robust deals across different business sectors. The Hyderabad-based drug creator had detailed a profit after tax (PAT) of Rs 204 crore in the corresponding period of the past fiscal. Income from operations rose to Rs 1,063 crore in the October-December time of the current fiscal as against Rs 859 crore in a same time of 2020-21 financial, Gland Pharma said in a regulatory filing.

In alignment with strategic priorities, the company has completed four complex injectable filings and a total of 18 ANDA filings during the quarter, he added.

“We are starting this new year with renewed optimism to accomplish many more milestones,” Sadu stated.

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