Gland Pharma Q1 web revenue up 12 computer to Rs 350.7 cr, Well being Information, ET HealthWorld

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Gland Pharma Q1 net profit up 12 pc to Rs 350.7 crNew Delhi: Drug agency Gland Pharma on Wednesday reported an 11.83 p.c improve in its consolidated web revenue to Rs 350.7 crore for the quarter ended June 30, 2021, on account of sturdy gross sales in all markets. The corporate had posted a web revenue of Rs 313.6 crore for the corresponding interval of the earlier fiscal, Gland Pharma mentioned in a regulatory submitting.

Consolidated revenue from operations of the corporate stood at Rs 1,153.9 crore for the quarter into account. It was Rs 884.2 crore for a similar interval a 12 months in the past, it added.

“Regardless of the challenges from the second wave of COVID within the nation, by way of manpower availability and provide chain bottlenecks, Gland Pharma has managed to ship sturdy quarterly outcomes,” Gland Pharma Managing Director and Chief Government Officer Srinivas Sadu mentioned.

The corporate’s key markets, the US, Canada, Europe, and Australia registered a development of 16 p.c and accounted for 61 p.c of income throughout the first quarter of the monetary 12 months 2021-22, Gland Pharma mentioned.

India accounted for 20 p.c of the primary quarter of the monetary 12 months 2021-22 income and witnessed a 77 p.c year-on-year development for the quarter. To assist the home market requirement throughout the second wave of COVID-19, the corporate ramped up the availability of important medicine like remdesivir and enoxaparin, it added.

The remainder of the World’s markets have seen a sturdy development of 51 p.c consistent with the corporate’s elevated concentrate on geographic growth, Gland Pharma mentioned.

The corporate additionally mentioned that its board has accepted the appointment of Udo Johannes Vetter as an Unbiased Director, with impact from July 21, 2021, for a tenure of 5 years.





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