Market

Gland Pharma shares rally nearly 8%; at 52-week high after Q1 earnings

Shares of Gland Pharma on Thursday jumped nearly 8 per cent after the company reported an 11.83 per cent improve in its consolidated internet revenue for the quarter ended June 30, 2021.

It zoomed 7.50 per cent to Rs 4,087.65 — its 52-week high — at the BSE.



On the NSE, it rallied 7.75 per cent to its 52-week high of Rs 4,089.

Drug agency Gland Pharma on Wednesday reported an 11.83 per cent improve in its consolidated internet revenue to Rs 350.7 crore for the quarter ended June 30, 2021, on account of strong gross sales in all markets.

The company had posted a internet revenue of Rs 313.6 crore for the corresponding interval of the earlier fiscal, Gland Pharma stated in a regulatory submitting.

Consolidated income from operations of the company stood at Rs 1,153.9 crore for the quarter into account. It was Rs 884.2 crore for a similar interval a year in the past, it added.

“In spite of the challenges from the second wave of COVID in the country, in terms of manpower availability and supply chain bottlenecks, Gland Pharma has managed to deliver strong quarterly results,” Gland Pharma Managing Director and Chief Executive Officer Srinivas Sadu stated.

(Only the headline and film of this report could have been reworked by the Business Standard employees; the remainder of the content material is auto-generated from a syndicated feed.)

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