Tuesday, March 28, 2023
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HomeMarketStocksGland Pharma Q2 PAT declines 20% YoY to Rs 241 crore

Gland Pharma Q2 PAT declines 20% YoY to Rs 241 crore

on Wednesday reported a consolidated PAT of Rs 241 crore for the September quarter of FY 2023 against Rs 302 crore YoY.

Consolidated revenue from operations stood at Rs 1,044 crore as against Rs 1,080 crore in the same quarter a year ago.

The EBITDA margin during the quarter under review stood at 33% versus 38% in the year-ago quarter.

Srinivas Sadu, MD & CEO of Gland Pharma, said, “We closed this quarter Q2 FY23, with a revenue of Rs1,044 crore and a PAT of Rs 241.2 crore. We continue to make investments in R&D and were able to complete 6 ANDA filings during this quarter. Although we have seen increased competition in our new products, we remain confident of our launch pipeline that will ensure sustainable growth. We are seeing positive momentum in our Biologics/Biosimilar CDMO business.”

Gross margin of the company remained stable in the first half of the year as compared to the same period of previous financial year but reduced sequentially largely due to change in geography mix and product mix. The company has generated Rs 395.6 crore of cash flow from operations during the first half of FY23. As of September, the company had a total Rs 38,200 crore of cash and bank balances.

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