Gland Pharma Ltd.'s net profit surged 50% during the first quarter of current fiscal, meeting analysts' estimates.
The pharma major's bottom line rose to Rs 215.4 crore for the April-June period, compared to Rs 143.7 crore for the same period last year, according to an exchange filing on Tuesday. This compares to the Rs 215.5-crore projection from analysts tracked by Bloomberg.
Gland Pharma Q1FY26 Highlights (Consolidated, YoY)
Revenue up 7.4% to Rs 1,505.6 crore versus Rs 1,401.7 crore (Estimate: Rs 1,530.5 crore).
Net profit up 50% to Rs 215.40 crore versus Rs 143.70 crore (Estimate: Rs 215.50 crore).
Ebitda up 39% to Rs 367.60 crore versus Rs 264.30 crore (Estimate: Rs 368.00 crore).
Margin at 24.4% versus 18.9% (Estimate: 24.04%).
Gland Pharma's total R&D expenses for the quarter stood at Rs 460 million, denoting a 4.4% of revenue. It also launched around 12 new molecules in regulated markets.
The company filed one ready-to-use bag this quarter, getting the total to 20 RTU products. An additional 10 are under development, aiming a market of around $767 million.
Commenting on the results, Shyamakant Giri, chief executive officer of Gland Pharma, said that by enhancing the company's base business, investing in differentiated products, and driving operational efficiencies, they are positioning themselves for sustained growth.
"At the same time, our continued focus on R&D, adherence to global quality standards, and investment in capability building position us to scale further, tap new markets, and deliver long-term value," Giri said.
Shares of Gland Pharma closed 0.91% lower at Rs 1,964.70 apiece on the NSE, compared to a 0.30% fall in the benchmark Nifty. The stock has fallen 7.12% in the last 12 months but risen 10.42% on a year-to-date basis.
Out of the 17 analysts tracking the company, eight have a 'buy' rating on the stock, two recommend 'hold' and seven gave 'sell', according to Bloomberg data. The average of 12-month analysts' price targets implies a potential downside of 12.5%.
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