High costs and the absence of big launches in FY23 would come in the way of a significant margin improvement
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Gland Pharma Ltd’s June quarter (Q1FY23) was plagued by various troubles. India revenues fell by 72% year-on-year (y-o-y) as the shutdown of two of its manufacturing lines for productivity improvement hurt business. Supply constraints added to the woes. The shortage of syringes meant a revenue loss of ₹165 crore in Q1FY23. It did not help that last year’s Q1 base was high because of the sale of covid related products.
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