Highlights for Q1 FY 2024-25
- Europe Business grew by 21.4% YoY to Rs. 6,957 Mn.
- India Business grew by 11.9% YoY to Rs. 11,962 Mn.
- ROW Business grew by 3.3% YoY to Rs. 5,708 Mn.
- 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%.
Bengaluru, August 16, 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.”
Formulation Business Highlights India
Sales from the formulation business in India for Q1 FY25 was at Rs. 11,962 Mn as against Rs. 10,693 Mn in the corresponding quarter last year, recording a growth of 11.9%.
North America
The North America business registered revenue of Rs. 7,808 Mn (USD 93.6 Mn) for the first quarter of FY25 as against revenue of Rs. 7,557 Mn (USD 91.0 Mn) for the fourth quarter of FY24. This translates in to a quarter-on-quarter (QoQ) growth of 3.3%.
Europe
Glenmark’s Europe operations’ revenue for the first quarter of FY25 was at Rs. 6,957 Mn as against Rs. 5,732 Mn in Q1 FY24, recording a YoY growth of 21.4%.
ROW Region (RCIS, LATAM, MEA & APAC) – For the first quarter of FY25, revenue from the ROW region was Rs. 5,708 Mn as against Rs. 5,528 Mn for the corresponding quarter last year, recording a YoY growth of 3.3%.
