Gland Pharma slips 10%, hits 52-week low on disappointing Q1 results

Q1 profit after tax tumbled 35 per cent YoY and 20 per cent QoQ to Rs 229 crore, due to lower operational income

Shares of Gland Pharma hit a 52-week low of Rs 2,232 as they slipped 10 per cent on the BSE in Thursday's intra-day trade. The company reported 35 per cent year-on-year (YoY) decline in profit after tax (PAT) to Rs 229 crore in June quarter (Q1FY23), due to lower operational income. The pharmaceutical company's PAT stood at Rs 351 crore in Q1FY22. On a sequential basis, PAT was down 20 per cent from Rs 286 crore in Q4FY22.

The stock has fallen below its previous low of Rs 2,421.30, touched on July 14, 2022. In the past three months,