Page 3 - Gland Pharma

Gland Pharma surges 11% amidst stellar Q4 results; profits grow two fold

On Wednesday, Gland Pharma reported a two fold jump or 145 per cent increase in consolidated net profit, reaching Rs 192.4 crore for the January-March period of FY24

Gland Pharma Q4 results: Net profit jumps over two-fold to Rs 192 crore

Gland Pharma on Wednesday said its consolidated profit after tax (PAT) surged over two-fold 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 drug firm said in a statement. 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. 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 s

Private equity company Bain Capital sells residual stake in Axis Bank

Among the buyers were a clutch of domestic as well as foreign funds

Two entities sell 4.9% stake in Gland Pharma for Rs 1,411 cr via open mkt

Two entities -- Lakumi Trust and Nicomac Machinery -- on Tuesday divested a 4.9 per cent stake in Gland Pharma for Rs 1,411 crore through open market transactions. Lakumi Trust and Nicomac Machinery Pvt Ltd disposed of 81.20 lakh shares of Gland Pharma in separate bulk deals on the National Stock Exchange (NSE). As per the data on the NSE, Lakumi Trust offloaded 61.65 lakh shares of Gland Pharma and Nicomac Machinery sold more than 19.55 lakh shares, amounting to a 3.74 per cent stake and an 1.18 per cent stake in the company. The shares were sold within the price range of Rs 1,735.31-1,739.10 apiece, taking the transaction value to Rs 1,411.57 crore. After the latest transaction, Nicomac Machinery sold its entire 1.18 per cent stake and exited the firm. Details of the buyers of Gland Pharma's shares could not be ascertained. Shares of Gland Pharma fell 2.83 per cent to close at Rs 1,807 apiece on the NSE. China's Fosun Pharma is the promoter of Gland Pharma and holds a 57.86 pe

Gland Pharma slips 7% after over 5% equity changes hands via block deal

According to media reports, two entities - Nicomac Machinery and RP Advisory Services - were looking to sell up to 4.4 per cent stake in Gland Pharma through block deals on Tuesday

Gland Pharma soars 7% on USFDA approval for breast cancer drug

The Eribulin Mesylate injection is indicated for treating patients diagnosed with metastatic breast cancer (mBC) who have undergone at least two rounds of chemotherapy for managing metastatic disease

Gland Pharma Q3 results: Net porfit at Rs 192 cr, revenue at Rs 1,545 cr

Gland Pharma on Wednesday said its consolidated Profit After Tax (PAT) stood at Rs 192 crore for the December quarter. The drug firm had reported a PAT of Rs 232 crore in the year-ago period. The company's revenue from operations stood at Rs 1,545 crore for the October-December period, up from Rs 938 a year ago. The results for the quarter under review and the nine months of the current fiscal are not comparable to the earlier periods of the previous year due to the inclusion of Cenexi results, the Hyderabad-based company said. On November 29, 2022, the Hyderabad-based drug Contract Development and Manufacturing Company (CDMO) had entered into a put option agreement to acquire Cenexi Group for up to 120 million euros, marking its foray into the international markets. "In the ex-Cenexi base business, we are happy to keep up with the growth aspirations, and the performance has been encouraging with the introduction of new products and improved volumes of the current basket," Gland .

Gland Pharma Q2 result: Net profit fell 20% to Rs 194 cr on higher expenses

Gland Pharma reported a nearly 32% jump in revenue from operations to Rs 1,373 crore, driven by higher sales from the acquisition of the French pharmaceutical group Cenexi in January

Stocks to Watch today, Aug 28: RIL, Jio Fin, BEL, Adani group, Gland Pharma

Stocks to Watch on Monday, August 28, 2023: The 46th Annual General Meeting (AGM) of Reliance Industries will take place at 2 PM today where Chairman Mukesh Ambani will address the shareholders

Gland Pharma freezes at 20% upper circuit on strong June quarter show

The firm's gross profit margin was up 700 bp year-on-year (YoY) to 63 per cent for Q1 due to lower raw material costs. On a sequential basis, gross profit margin improved by 900 bp from 54 per cent

Gland Pharma posts 41% jump in quarterly revenue on Cenexi acquisition

Indian generic injectables maker Gland Pharma Ltd reported a 41% jump in first-quarter revenue on Monday

Stocks to Watch: SBI, HDFC twins, JSW Steel, Vedanta, TCNS, ITC, ABFRL

Stocks to watch on June 28, 2023: HDFC said the announced dates for its merger into HDFC Bank are tentative and subject to completion of certain formalities; JSW Steel could replace HDFC in Sensex

Gland Pharma, Siemens: Strategies for 5 stocks defying current market mood

few selective stocks, like Gland Pharma, PVR INOX, Siemens, Upl and JK Paper may continue to slide lower demonstrating a bearish engulfing sentiment, show technical charts

Gland Pharma down 33% in two days, Shreyas Shipping hits 20% upper limit

The miss comes on the back of a key customer filing for bankruptcy, high competition from Chinese players, and production shutdowns

Stock of this pharma company has plunged 80% from its record high level

Shares of Gland Pharma tumbled 19 per cent to hit a new low of Rs 872.10 in Monday's intra-day trade, in an otherwise firm market

Street Signs: A bitter pill for Gland Pharma, Small-cap stock's F&O & more

Capital markets regulator Securities and Exchange Board of India plans to ease a rule that will make fund managers breathe a little easier

Gland Pharma tanks 20%, hits record low on weak Q4 results

Revenue declined 29% YoY due to lower offtake of the key products in developed as well as domestic markets and due to Production line shut down in Pashamylaram Penems facility due to line upgradation.

Gland Pharma profit declines by 56% on soft demand in March quarter

Its earnings before interest, taxes, depreciation, and amortisation (EBITDA) margin contracted to 21% from 32% a year earlier

ITC, SBI, and others: These companies will declare their Q4 results today

Q4 results today: The list of companies that will declare their financial results has names like IndiGo, Jet Airways, Tata Elxsi, and GAIL

China's Fosun drops plan to sell stake in drugmaker Gland Pharma: Report

Fosun Pharma holds a 57.86% stake in the Indian company