India's Gland Pharma posts quarterly profit rise on Cenexi recovery, Europe sales growth
The company reported a consolidated net profit of 2.15 billion rupees ($24.50 million) for the quarter ended June 30, from 1.44 billion rupees in the year-ago quarter.
Revenue from operations rose 7.4% to 15.06 billion rupees. While sales from its U.S. business, which accounts for nearly half of the total, fell 2%, its Europe business posted a 29% rise.
For further results highlights, click
KEY CONTEXT
Gland and several Indian pharma companies that make generic drugs derive a significant share of revenue from the United States and has continued to face pricing pressure in that market following U.S. President Donald Trump's imposition of hefty tariffs on goods imported from India.
Rivals Sun Pharma (SUN.NS), opens new tab and Cipla (CIPL.NS), opens new tab and Dr Reddy's (REDY.NS), opens new tab reported subdued U.S. sales in the quarter.
However, Gland Pharma said improved margins and Cenexi's earnings before interest, taxes, depreciation, and amortisation (EBITDA) break-even supported quarterly performance, marking a turnaround after production setbacks at its Paris and Belgium units weighed on earnings over the past year.
The company's EBITDA margin rose to 35% in the June quarter from 29% a year earlier.
PEER COMPARISON
* Mean of analysts' ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell
** Ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT
APRIL TO JUNE STOCK PERFORMANCE
-- All data from LSEG
-- $1 = 87.7570 Indian rupeesthe
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