Title: Gland Pharma Plunges to 52-Week Low as Q4 Net Profit Slumps 72.5%, Revenue Drops 29% Date: [Insert Date]
Gland Pharma Plunges to 52-Week Low as Q4 Net Profit Slumps 72.5%, Revenue Drops 29%
In a concerning turn of events, Gland Pharma, the drugmaker, has witnessed a sharp decline in its financial performance for the fourth quarter. The company's net profit tumbled by a staggering 72.5% to Rs 78.6 crore, primarily attributed to a high base resulting from COVID-related sales and the temporary shutdown of production at the Pashamylaram Penems facility for line upgradation. Additionally, the revenue also experienced a significant drop of 29%. This development has caused Gland Pharma's stock to hit a 52-week low, raising concerns within the industry and among investors about the company's future prospects.
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