Profit before tax (PBT) stood at Rs 218.24 crore, down 16.47% as compared with Rs 261.26 crore in Q1 FY24.
EBITDA fell to Rs 265.4 crore during the quarter as compared with Rs 298.2 crore in Q1 FY23, registering de-growth of 11%. EBITDA margin reduced from 25% to 19% during the quarter.
Revenue from US market stood at Rs 762.8 crore (up 27% YoY), revenue Europe was at Rs 256.6 crore (up 15% YoY), Canada, Australia and New Zealand stood at Rs 44.7 crore (up 72% YoY) while revenue from India was at Rs 52.7 crore (down 19% YoY) and Rest of the world was at Rs 284.9 crore (down 3% YoY) during the period under review.
Total capex incurred during the quarter was Rs 63.7 crore.
R&D expenses stood at Rs 48.9 crore in Q1 FY25, (5% of revenue).
Cenexi’s gross profit jumped 24% to Rs 302.6 crore during the quarter as comapred with Rs 243.6 crore in Q1 FY24. Revenue from operations increased 21% YoY to Rs 388.3 crore during the quarter.
On outlook front, the company said that In Q2 FY25 Lower activity levels are expected due to the European holiday season and planned summer maintenance shutdowns. The Fontenay plant will have an extended 3-week shutdown for new ampoule line installation.
It expects positive EBITDA for Q4 of this fiscal year and a positive EBITDA for the next fiscal year, driven by increased revenue exceeding the €200 million threshold.
Srinivas Sadu, executive chairman and CEO of Gland Pharma, said, “We reached Rs 1,401.7 crore in total revenue, a 16% increase from Q1FY24. This growth aligns with our projections and is primarily driven by the US market, which saw a 27% revenue increase led by existing and certain new products. Our base business EBITDA margins were at 29%, and consolidated EBITDA margins for the quarter were 19%, mainly affected by Cenexi. We're confident in our ability to meet our fiscal year goals and are excited about the growing opportunities and even stronger results expected in the coming quarters.”
Gland Pharma is one of the largest and fastest growing injectable-focused companies, with a global footprint across 60 countries, including the United States, Europe, Canada, Australia, India, and other markets. It has a wide range of injectables, including vials, ampoules, pre-filled syringes, lyophilized vials, dry powders, infusions, oncology, and ophthalmic solutions. The company also pioneered Heparin technology in India.
0 mins read . Dec 18, 2024
0 mins read . Dec 18, 2024
0 mins read . Dec 18, 2024
