Gland Pharma, an Indian generic injectables manufacturer, reported a Q4 net profit of ₹1.92 billion, below expectations due to soaring expenses, despite a revenue surge to ₹15.37 billion, mainly driven by strong sales in Europe and the U.S., constituting 75% of total revenue. The acquisition of French pharmaceutical group Cenexi further boosted revenue. However, expenses rose by 95%, primarily due to increased employee-related costs and raw material prices. Tax expenses also surged. Gland Pharma’s performance contrasts with rivals like Dr. Reddy’s and Cipla. Additionally, the company announced a dividend of ₹20 per share.
Gland Pharma’s Q4 Profit Falls Short Despite Revenue Surge
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