Gujarat Terce Laboratories ends March 2023 with increased income

Gujarat Terce Laboratories Ltd., an esteemed player in India’s pharmaceutical industry, announced standalone financial results for the period concluding March 31, 2023.

The company has demonstrated a positive financial trajectory with its total income increasing to Rs. 12.9899 crores, up from Rs. 11.9891 crores for the period ending in December 2022.

Significantly, Gujarat Terce Laboratories posted a net profit of Rs. 0.8034 crores for Q1 2023, a notable turn from the net loss of Rs. -0.0028 crores reported in the last quarter of 2022. The company also reported an EPS (Earnings Per Share) of Rs. 1.08 for the period ended March 2023, reflecting a significant recovery from an EPS of Rs. -0.0037 as of December 2022.

A year-over-year comparison also showcases positive growth for the pharmaceutical company. In contrast to the total income of Rs. 9.4171 crores reported in March 2022, Gujarat Terce Laboratories marked an increase to Rs. 12.9899 crores in March 2023. Additionally, while the company reported a net loss of Rs. -1.6588 crores for the period ended March 31, 2022, it managed to rebound and post a net profit of Rs. 0.8034 crores in March 2023.

Further analysis of the financial results for the year ending March 31, 2023, reveals a total income of Rs. 47.1370 crores, a boost compared to Rs. 40.4397 crores for the fiscal year ended in March 2022. However, despite the increased income, the company reported a net loss of Rs. -1.6716 crores for the 2023 fiscal year, a decline compared to the net profit of Rs. 0.8723 crores reported in the 2022 fiscal year. Subsequently, the EPS for the fiscal year 2023 stood at Rs. -2.25, compared to Rs. 1.18 for the year ended March 2022.

These standalone financial results point towards the ongoing efforts of Gujarat Terce Laboratories to navigate the challenges in the pharmaceutical sector and maintain a stable financial performance amidst market fluctuations.