Gland Pharma Ltd reported a significant decline in net profit for the first quarter ending June 30, 2024. The company’s net profit fell by 25.9% year-on-year to ₹143.8 crore, despite a notable increase in revenue.
Financial Highlights
- Net Profit: ₹143.8 crore, a 25.9% decrease from ₹194 crore in the same quarter last year.
- Revenue: Increased by 16% to ₹1,401.7 crore compared to ₹1,208.7 crore in the previous year.
- EBITDA: Dropped by 10% to ₹264.4 crore from ₹293.9 crore in the year-ago period.
- EBITDA Margin: Reduced to 19% from 24.3% in the first quarter of the previous fiscal year.
Business Performance
- R&D Expenses: ₹48.9 crore, representing 5% of the revenue.
- ANDA Filings: Filed eight ANDAs and received approval for seven during the quarter, totaling 356 ANDAs in the US (295 approved, 61 pending).
- Product Launches: Launched eight molecules in the US, including eribulin mesylate, plerixafor, nelarabine, and edaravone.
| Metric | Q1 FY25 | Q1 FY24 |
|---|---|---|
| Net Profit | ₹143.8 crore | ₹194 crore |
| Revenue | ₹1,401.7 crore | ₹1,208.7 crore |
| EBITDA | ₹264.4 crore | ₹293.9 crore |
| EBITDA Margin | 19% | 24.3% |
| R&D Expenses | ₹48.9 crore | – |
| Capex | ₹63.7 crore | – |
Market and Growth Prospects
- US Market: Gland Pharma launched eight new molecules.
- China Market: Filed nine products to date, with three approvals and one commercialization.
- Complex Injectables: Received six approvals out of 19 molecules under development.
- Growth Strategies: The company is exploring acquisitions, in-licensing, and co-development opportunities to accelerate growth.
Gland Pharma faces a subdued second quarter, with efforts focused on expanding its product portfolio and market reach to offset the decline in net profit
