Gland Pharma Q2 Results: Profit Falls Missing Estimates
Gland Pharma Q2 Results: Profit Falls Missing Estimates
Gland Pharma's Q2 profit fell 20% year-on-year to Rs 241 crore.
Gland Pharma Ltd.’s second-quarter profit declined, missing forecasts.Net profit of the Hyderabad-based generic injectable manufacturer fell 20% year-on-year to Rs 241 crore in the three months through September, according to its exchange filing. That compares with the Rs 259-crore consensus estimate of analysts tracked by Bloomberg.Sequentially, the profit rose 5%.Gland Pharma Q2 Highlights (YoY)Revenue fell 3% to Rs 1,044 crore, against the estimated Rs 1,020 crore.Operating profit was down 21% to Rs 297 crore, compared with the Rs 334-crore forecast.Operating margin stood at 28.4% against 34.9% a year ago and 32.8% estimate.Continue Reading. Read more on Business News by BloombergQuint.