Glenmark Pharmaceuticals PAT at Rs 354.49 crore in September quarter

Glenmark Pharmaceuticals Ltd on Thursday reported a consolidated profit after tax of Rs 354.49 crore in the second quarter ended on September 30, 2024. The company reported a consolidated loss after tax of Rs 180.3 crore in the same quarter last fiscal, Glenmark Pharmaceuticals said in a regulatory filing.

Consolidated total revenue from operations in the second quarter stood at Rs 3,433.8 crore against Rs 3,207.37 crore in the year-ago period.

Total expenses in the quarter under review were Rs 3,000.64 crore compared to Rs 3,008 crore in the corresponding period a year ago.

"This quarter, we have maintained a strong growth trajectory, driven by robust performances in the Indian and European markets. Our flagship respiratory brand, RYALTRIS, continues to perform well across all key regions, reaffirming its position as a leading treatment option," Glenmark Pharmaceuticals Chairman and Managing Director Glenn Saldanha said.

Additionally, he said, "We have strategically in-licensed innovative products in our priority therapeutic areas, further strengthening our commitment to addressing unmet medical needs and improving patient outcomes." Sales from the formulation business in India in Q2 FY25 was Rs 1,281.7 crore against Rs 1,125.2 crore in the previous corresponding quarter, a growth of 13.9 per cent, the company said.

North America registered revenue from the sales of finished dosage formulations of Rs 740.5 crore in the second quarter over revenue of Rs 749.8 crore in the year-ago period.

Glenmark's European operations revenue for the second quarter of FY 2024-25, was Rs 687.4 crore from Rs 599.7 crore in the year-ago period, the company said.