Gland Pharma Q3 net profit rises 34% at Rs 273 cr

Gland Pharma on Friday posted a 34 per cent increase in its consolidated profit after tax at Rs 273 crore for the third quarter ended December 31, 2021, riding on robust sales across various markets.

The Hyderabad-based drug maker had reported a profit after tax (PAT) of Rs 204 crore in the corresponding period of the previous fiscal.

Revenue from operations rose to Rs 1,063 crore in the October-December period of the current fiscal as against Rs 859 crore in the same period of 2020-21 fiscal, Gland Pharma said in a regulatory filing.

"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.

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.