Shares of Gland Pharma fell as much as 9.44%, reaching an intraday low of Rs 1910.20 a share on Monday, August 7, 2024.
Nevertheless, by 9:45 AM, the company’s shares were trading at Rs 2,023.85 a share, 4.06 percent lower. In comparison, the BSE Sensex was up 0.90 percent at 79,301.43 levels in trade.
Following the release of the company’s unimpressive June quarter (Q1FY25) earnings, the share price dropped. Gland Pharma’s profit fell 25.9 percent year on year (YoY) to Rs 143.8 crore in Q1FY25, from Rs 194 crore in Q1FY24.
Compared to Rs 1,208.7 crore in Q1FY25, the company’s operating revenue increased by 16 percent to Rs 1,401.7 crore.
Earnings before interest, tax, depreciation and amortisation (Ebitda) decreased by 10% yearly at the operational level from Rs 293.9 crore to Rs 264.4 crore in Q1FY25.
As of 10:22 am, Gland Pharma shares were trading 4.30% lower at ₹2,016.35 on the NSE.
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