Gland Pharma shares hit 52-week low after profit declines 15% in Q3

Gland Pharma Q3: Revenue from operations for the quarter at Rs 938 crore declined 12% compared to year-ago period.

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Gland Pharma share price fell 4 percent and touched 52-week low in the early trade on January 24 after the company posted a weak set of numbers for the quarter ended December 2022.

Gland Pharma has reported a 15 percent on-year decline in profit at Rs 232 crore for December FY23 quarter with lower topline as well as weak operating performance.

Revenue from operations for the quarter at Rs 938 crore declined 12 percent compared to year-ago period.

Gland Pharma has touched 52-week low of Rs 1,309 and quoting at Rs 1,320, down Rs 57.35, or 4.16 percent on the BSE.