Latest News | Gland Pharma Stock Declines 2 Pc After Earnings Announcement
Get latest articles and stories on Latest News at LatestLY. Shares of Gland Pharma declined 2 per cent in morning trade on Tuesday after the company reported a decline in net profit for the third quarter.
New Delhi, Jan 24 (PTI) Shares of Gland Pharma declined 2 per cent in morning trade on Tuesday after the company reported a decline in net profit for the third quarter.
The stock declined 1.87 per cent to Rs 1,351.65 apiece in early trade on the BSE.
On the NSE, the stock fell 1.93 per cent to Rs 1,349.05 apiece.
The 30-share BSE Sensex was trading 134.96 points or 0.22 per cent higher at 61,076.63 in morning trade.
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Gland Pharma Ltd on Monday reported a 15 per cent decline in consolidated net profit at Rs 231.95 crore for the third quarter ended December 2022, impacted by production delays due to supply disruptions.
It had posted a consolidated net profit of Rs 273.03 crore in the same period last fiscal, the company said in a regulatory filing.
Consolidated revenue from operations during the quarter under review stood at Rs 938.29 crore as against Rs 1,063.33 crore in the year-ago period.
Total expenses in the third quarter were lower at Rs 688.95 crore as compared to Rs 743.43 crore in the same period a year ago.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)