Pharma stock jumps 11% after company’s net profit increased by 143% YoY

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Pharma stock jumps 11% after company’s net profit increased by 143% YoY
Credit: © Reuters.

The share of the leading generic injectable manufacturer gained up to 11 percent after the company’s net profit and revenue jumped by 143 percent and 96 percent respectively in the fourth quarter.

With a market capitalization of Rs 31,039.70 crore, the shares of Gland Pharma (NS: GLAD ) Ltd were trading at Rs 1,884.50 per share, increasing around 5 percent as compared to the previous closing price of Rs 1,795.50 apiece.

Looking into the company’s performance, Gland Pharma Ltd’s revenue decreased by 0.5 percent on a quarter-on-quarter basis from Rs. 1,545 crore in Q3FY24 to Rs. 1,537 crore in Q4FY24. Further, revenue increased by 96 percent year on year, from Rs. 785 crore in Q4FY23 to Rs. 1,537 crore in Q4FY24.

Gland Pharma Ltd’s net profit is stable at Rs 192 crore in Q4FY24 as compared to the last quarter. Further, net profit increased by 143 percent year on year from Rs. 79 crore in Q4FY23 to Rs.192 crore in Q4FY24.

The company received 6 approvals were received out of 19 molecules. Eribulin was launched as the first major complex product in May 2024. The next two years are important for meaningful results. Exploring acquisitions, in-licensing, and co-development opportunities to accelerate growth.

As of March 31st, 2024, the company along with its partners had 349 ANDA filings in the United States, of which 286 were approved and 63 pending approval. The company has 1,667 product registrations globally, of which 473 are in the United States, Europe, Canada, Australia, and New Zealand, 73 in India and 1,121 in Rest of the world.

Gland Pharma Limited specializes in complicated injectables and operates in the sterile injectables, cancer, and ophthalmology industries. The Company offers contract development, own development, dossier preparation and filing, technology transfer, and manufacturing services through a range of delivery mechanisms.

Written by:- Abhishek Singh

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