Gland Pharma Q3 Results: Profit, revenue beat estimates on strong US, Europe traction

Gland Pharma posted a solid set of numbers for the December quarter, beating Street estimates across profit, revenue and EBITDA, supported by strong execution and double-digit growth in key markets.

Net

profit rose 27.5% year-on-year to ₹261.4 crore, ahead of the CNBC-TV18 poll estimate of ₹253.2 crore.

Revenue grew 22.5% to ₹1,695 crore, while EBITDA increased 20.8% to ₹434.9 crore. EBITDA margin stood at 25.6%, broadly stable year-on-year.

Management attributed the performance to disciplined execution, new product launches and improving contribution from its base and CDMO businesses. The company saw double-digit growth across the US and Europe, while Cenexi reached breakeven during the quarter.

R&D spending increased to ₹65 crore, or 5.4% of revenue, reflecting higher investment in complex product development and filings. During the quarter, Gland Pharma launched nine molecules in the US and filed nine ANDAs, taking its cumulative US filings to 384.

The company continues to build its complex injectable pipeline, RTU bag portfolio and drug-device combination capabilities, while also signing a new oncology-focused CMO contract that provides medium-to-long-term revenue visibility.

Ahead of the results, shares of Gland Pharma closed marginally higher on the NSE.