Gland Pharma shares hit 20% lower circuit after disappointing Q4 results
Gland Pharma’s stock prices hit a 20% lower circuit on BSE after the firm reported a 72% YoY drop in net profit to Rs 79 crore in Q4FY23 due to a production shutdown at one of its facilities in Telangana and soft demand. The company had posted a net profit of Rs 285 crore in the same quarter of the previous year. Its revenue from operations slumped 29% YoY to Rs 785 crore in Q4FY23.
