Gland Pharma shares surged over 10% this week following its Q2 results, despite a 16% drop in consolidated net profit.
The company posted a profit of Rs 163.53 crore for the quarter ending September 30, 2024, slightly exceeding analysts’ expectations of Rs 162.9 crore. This marks a decline from Rs 194.08 crore during the same period last year.
The decline in profitability was attributed to higher raw material costs, which rose to 39.2% of sales, up from 37.9% last year. This increase in input costs led to a reduction in the company’s EBITDA margin, which stood at 21.1% compared to 24% in the previous year.
