Going ahead, elevated costs and absence of big launches in FY23 would restrict a significant rebound in margin
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Gland Pharma Ltd. was plagued by various troubles in the June quarter (Q1FY23) such as supply constraints, shutdown of manufacturing lines and a slowdown in the India business which saw a 72% year-on-year drop in revenue. A shortage of syringes resulted in overall revenue loss of ₹165 crore across the US, India and rest of the world (RoW) markets in Q1, while the high base from last year made matters worse.
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