Gland Pharma Q4 results: Net profit doubles to Rs 192 crore
Despite the dynamic business landscape, the drugmaker has shown resilience and delivered achievements that position it well for further growth and success, he added.
Gland Pharma on Wednesday said its consolidated profit after tax (PAT) more than doubled to Rs 192 crore for the March quarter.
The company has reported a PAT of Rs 79 crore in the year-ago period, the Hyderabad-based pharmaceutical company said in a statement.
Operating revenue rose to Rs 1,537 crore in the fourth quarter of FY24, compared to Rs 785 crore in the same period a year ago, the report said.
For the year ended March 31, 2024, the company reported a PAT of Rs 772 crore, against Rs 781 crore in the financial year 2022-2023.
Operating revenue rose to Rs 5,665 crore last fiscal, up from Rs 3,625 crore in FY23.
“This year marked a significant recovery for our core business, and we began an exciting new chapter as we completed our first international acquisition, Cenexi, in Europe,” said Gland Pharma MD and CEO Srinivas Sadu.
Despite the dynamic business landscape, the drugmaker has shown resilience and delivered achievements that position it well for further growth and success, he added.
“We see continued momentum in this segment and are optimistic about the opportunities ahead. The strategic rationale behind the Cenexi acquisition remains intact and we expect it to deliver significant value as we move forward,” Sadu said.
The company said the board has recommended a final dividend of Rs 20 per share for the financial year ending March 31, 2024, subject to shareholder approval.
First print: May 22, 2024 | 11:59 p.m IST