Revenue from operations increased by 30% YoY to Rs 1,080.5 crore during the quarter. The growth in revenue was on account of launch of new products and growth in existing products, the company said.

Gland Pharma's key markets, US, Canada, Europe and Australia registered a growth of 25% and accounted for 62% of its revenue during Q2FY22.

Rest of the World markets witnessed a robust growth of 59%, in line with the company's increased focus on geographic expansion. This was driven by increased penetration by forming new partnerships in various countries.

India accounted for 17% of Q2FY22 revenue and witnessed a 19% Y-o-Y growth for the quarter, the Hyderabad-based pharmaceutical company said.

The total R&D expense for Q2FY22 was Rs 57.8 crore which is 5.3% of the revenue from operations.

During the quarter ended September 30, 2021, the company has filed 5 ANDAs, 3 DMFs and received 5 ANDA approvals.

As on 30 September 2021, the company along with its partners has filed total 291 ANDAs, out of which 244 were approved and 47 are pending approval.

Total capex incurred during the quarter ended 30 September 2021 was Rs 142.9 crore.

EBITDA improved by 35% to Rs 427.8 crore in Q2 FY22 from Rs 318.1 crore in Q2 FY21. EBITDA margin was 38% as on 30 September 2021 as against 37% as on 30 September 2020.

Profit before tax in the second quarter stood at Rs 400.7 crore, up by 37% from Rs 292.6 crore reported in the same period last year.

Srinivas Sadu, MD & CEO of Gland Pharma, said: “We continue to focus on revenue diversification across geographies, which is helping us further improve our manufacturing efficiencies because of benefits from scale as well as de-risking the business.

With declining COVID-19 hospitalizations, we observed a shift in product mix. Our wide therapeutic portfolio helped us to sustain growth despite changing market demand. Our rich R&D pipeline is helping us maintain strong momentum of new product launches.

We are on track to make four complex injectable filings in this financial year.”

Hyderabad-based Gland Pharma is one of the largest and fastest growing injectable-focused companies, with a global footprint across 60 countries, including the United States, Europe, Canada, Australia, India and other markets. It operates primarily under a business to business (B2B) model and it engaged in development, manufacturing and marketing of complex injectables.

Shares of Gland Pharma advanced 2.09% to end at Rs 3693.65 on the BSE on Friday.