CompaniesGland Pharma LtdFollowCipla LtdFollowDr Reddy’s Laboratories LtdFollowShow more companiesNov 3 (Reuters) – India’s Gland Pharma (GLAD.NS), opens new tab reported a 12% rise in second-quarter profit on Monday, as recovery at its European unit Cenexi bolstered margins.The consolidated net profit rose to 1.84 billion rupees (nearly $21 million) for the quarter ended September 30 from 1.64 billion rupees a year earlier.
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Revenue from operations rose 5.8% to 14.87 billion rupees.U.S. sales, which make up more than half of the total, climbed 10%, while European business posted a 16% rise.For further results highlights, clickKEY CONTEXTIndian generic drug makers, including Gland, derive a significant share of revenue from the United States, and have faced pricing pressure in the market following the imposition of hefty U.S. tariffs on goods from India.Rivals Cipla (CIPL.NS), opens new tab and Dr Reddy’s (REDY.NS), opens new tab reported subdued sales in the region during the quarter.However, a revival at Gland Pharma’s Cenexi unit in France drove margins higher, the company said. The drugmaker had been grappling with production setbacks at Cenexi’s Paris and Belgium units throughout last year.The company’s margins on earnings before interest, tax, depreciation and amortization, adjusted for employee benefits expenses, improved to 23% in the September quarter from 21% a year earlier.PEER COMPARISON* The mean of analyst ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell** The ratio of the stock’s last close to analysts’ mean price target; a ratio above 1 means the stock is trading above the PTJULY TO SEPTEMBER STOCK PERFORMANCE
Gland Pharma Q2 stock performance compared with peers– All data from LSEG– $1 = 87.8950 Indian rupees
Reporting by Kashish Tandon in Bengaluru; Editing by Eileen Soreng
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