Glenmark Q1 Results: Net profit doubles to Rs 340 crore
Glenmark Pharma net profit doubled to Rs 340 crore crore in Q1FY25 led by robust sales growth in India and Europe and reduction in finance, depreciation and ammortisation costs.
The drugmaker reported Rs 173 crore net profit in the corresponding quarter of the previous year.
Revenue from operations rose 7% YoY to Rs 3244 crore in Q1FY25.
EBITDA grew 34.5% YoY to Rs 588 crore, the EBITDA margins dropped 50 basis points YoY to 18.1%.
India business grew by 12% YoY to Rs. 1196 crore led by improved market share in the key therapy areas like cardiac, dermatology and respiratory which grew higher compared to the overall industry.
North America business declined 4.6% to Rs. 781 crore. Europe rose by 21.4% to Rs. 696 crore and the rest-of-the-world (ROW) rose by 3.3% to Rs. 571 crore.
Glenmark has guided revenue to Rs 13,500 crore — Rs 14,000 crore, with 7-7.25% R&D investment on total sales. The Mumbai-based company is guiding 19% EBITDA margin and a capex of Rs 700 crore.
«Ryaltris remains a major global growth driver, achieving high double-digit market shares in multiple regions,» said Glenn Saldanha, chairman and MD of Glenmark.
«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,” Saldanha added.
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