Glenmark Pharmaceuticals, a global pharmaceutical company, revealed robust financial results for the first quarter of FY 2024-25, reflecting strong performance across its key markets.
In a press statement on Friday, the company informed that for the quarter ended June 30, 2024, Glenmark reported consolidated revenue from operations of Rs. 32,442 million, marking a year-on-year (YoY) growth of 6.9 per cent from Rs. 30,361 million in the same period last year. The company's EBITDA for Q1 FY25 stood at Rs. 5,882 million, a 34.5 per cent increase YoY, with an EBITDA margin of 18.1 per cent. Profit After Tax (PAT) was recorded at Rs. 3,402 million, yielding a PAT margin of 10.5 per cent.
Commenting on the results, Glenn Saldanha, Chairman and Managing Director of Glenmark Pharmaceuticals, 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 core therapeutic areas, while Europe builds 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."
Key Highlights by Region:
India: The India formulation business achieved sales of Rs. 11,962 million, up 11.9 per cent YoY from Rs. 10,693 million in Q1 FY24, driven by strong performance in core therapeutic areas.
North America: Glenmark's North America business posted revenue of Rs. 7,808 million (USD 93.6 million) for Q1 FY25, showing a quarter-on-quarter (QoQ) growth of 3.3 per cent from Rs. 7,557 million (USD 91.0 million) in the previous quarter.
Europe: The European operations delivered significant YoY growth of 21.4 per cent, with revenue rising to Rs. 6,957 million in Q1 FY25 from Rs. 5,732 million in Q1 FY24, fueled by strong sales in the branded segment.
ROW Region (RCIS, LATAM, MEA & APAC): The Rest of the World (ROW) region saw revenue increase by 3.3 per cent YoY, reaching Rs. 5,708 million in Q1 FY25 compared to Rs. 5,528 million in the same quarter last year.
Glenmark continues to focus on launching innovative products, including Envafolimab and Winlevi, as part of its growth strategy.
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