Glenmark Pharma reports consolidated revenue growth of 6.9%

EBITDA margin of 18.1% and PAT margin of 10.5% YoY for Q1 FY 2024-25

India

healthysoch

New Delhi, August 17, 2024: 

Glenmark Pharmaceuticals Limited (Glenmark), a leading research- led, global pharmaceutical company, today announced its financial results for the quarter ended June 30, 2024.

For the first quarter of FY25, Glenmark’s consolidated revenue from operations was at Rs. 32,442 Mn as against Rs. 30,361 Mn in the corresponding quarter last year, recording overall year-on-year (YoY) growth of 6.9%. EBITDA was at Rs. 5,882 Mn in the quarter ended June 30, 2024, with YoY growth of 34.5% and EBITDA margin of 18.1%. Profit After Tax (PAT) for the quarter ended June 30, 2024 was at Rs. 3,402 Mn, registering PAT margin of 10.5%.

Glenn Saldanha, Chairman and Managing Director, Glenmark Pharmaceuticals Ltd. said “Our strong start to the new financial year reflects our robust revenue growth across key regions and solid operational performance, leading to a significantly improved margin profile. Our India business continues to excel, outpacing the Indian Pharma Market with our expertise in our core therapeutic areas, while Europe build on its FY24 success with further growth in the branded segment. RYALTRIS® remains a major global growth driver, achieving high double-digit market shares in multiple regions. As we look ahead, we are committed to launching innovative products, including Envafolimab and Winlevi®, and are confident of our trajectory towards meeting our FY25 objectives.”

EuropeBusinessgrewby21.4%YoYtoRs.6,957Mn.

·           India Business grew by 11.9% YoY to Rs. 11,962 Mn.

·           ROWBusinessgrewby3.3%YoYtoRs.5,708Mn.

·           North America Business grew by 3.3% (QoQ) to Rs. 7,808 Mn.

·           EBITDA of Rs. 5,882 Mn, with EBITDA margin of 18.1%.

·           PAT of Rs. 3,402 Mn with PAT margin of 10.5%.