Glenmark Pharma Q2 profit rises on strong India business performance

Mumbai-based Glenmark Pharmaceuticals on Thursday reported a consolidated net profit of Rs 354.5 crore in the September quarter (Q2 FY25), after recording a loss of Rs 180.3 crore in the same period last year, according to a regulatory filing on the Bombay Stock Exchange (BSE).

 

The company’s revenue from operations rose to Rs 3,433 crore, a 7.1 per cent increase from Rs 3,207 crore reported in Q2 FY24.

 

The growth is attributed to strong performance in the India and Europe markets.

 

For Q2, the company’s revenue from the Indian market rose 13.9 per cent to Rs 1,281.7 crore, contributing 37 per cent to Glenmark Pharma’s total revenue.

 

In the India market, Glenmark sustained higher growth in the cardiac and dermatology therapeutic areas, along with continuous improvement in market share across cardiac, dermatology, and respiratory therapeutic areas.

 

The company also reported a 14.6 per cent rise in revenues in the European market to Rs 687.4 crore, while recording a 1.2 per cent revenue drop in the North America market.

 

Glenmark also filed one abbreviated new drug application (ANDA) and launched four new products in the North America region.

 

On a consolidated basis, the company’s earnings before interest, tax, depreciation, and amortisation (Ebitda) grew 30.2 per cent to Rs 601.9 crore, with Ebitda margins at 17.5 per cent.

 

Commenting on the results, Glenn Saldanha, chairman and managing director, Glenmark Pharmaceuticals, said the company has maintained a strong growth trajectory, driven by robust performances in the India and Europe markets.

 

“Our flagship respiratory brand, RYALTRIS®, continues to perform well across all key regions, reaffirming its position as a leading treatment option," he added.

 

Saldanha also stated that Glenmark has strategically in-licensed innovative products in its priority therapeutic areas, further strengthening its commitment to addressing unmet medical needs and improving patient outcomes.

 

On Thursday, Glenmark Pharma’s shares declined by 0.44 per cent, ending the day’s trade at Rs 1,531.70 apiece on the BSE.