Gland Pharma net profit jumps over two-fold to Rs 192 crore in Q4
New Delhi: Gland Pharma announced a consolidated profit after tax (PAT) increase of over two-fold, reaching Rs 192 crore in the March quarter. This marks a significant surge compared to the PAT of Rs 79 crore reported in the corresponding period last year, according to a statement from the Hyderabad-based drug firm
Revenue from operations rose to Rs 1,537 crore in the fourth quarter of FY24 as against Rs 785 crore in the year-ago period, it said.
As per PTI report, for the year ended March 31, 2024, the company reported a PAT of Rs 772 crore as against Rs 781 crore in 2022-23 fiscal.
Revenue from operations rose to Rs 5,665 crore last fiscal as against Rs 3,625 crore in FY23.
"This year marked a significant rebound for our base business, and we began an exciting new chapter as we completed our first international acquisition, Cenexi, in Europe," Gland Pharma MD and CEO Srinivas Sadu said.
Despite the dynamic business landscape, the drugmaker has shown resilience and delivered a performance that positions it well for continued growth and success, he added.
"We see continued momentum in this segment and are optimistic about its future opportunities. The strategic rationale behind Cenexi's acquisition remains intact, and we expect it to deliver significant value as we move forward," Sadu said.
The company said its board recommended a final dividend of Rs 20 per share for the fiscal year ending March 31, 2024, subject to shareholders' approval.
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