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Business News/ Companies / Company Results/  Glenmark Pharma revenue falls 6.3% at Rs27,773 million for Q1
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Glenmark Pharma revenue falls 6.3% at Rs27,773 million for Q1

The company noted that adjusted EBITDA was ₹4,726 million in the quarter ended June 30, 2022 as against ₹5,736 million in the previous corresponding quarter, with margins of 17%

Profit After Tax (PAT) for the quarter ended June 30, 2022 was at ₹2,111 million as compared to ₹3,065 million in the previous corresponding quarter, registering a decline of (31%) YoY.Premium
Profit After Tax (PAT) for the quarter ended June 30, 2022 was at 2,111 million as compared to 3,065 million in the previous corresponding quarter, registering a decline of (31%) YoY.

NEW DELHI : Glenmark Pharmaceuticals on Wednesday announced its financial results for the first quarter ended June 30, 2022. Glenmark’s consolidated revenue for Q1 FY 2022-23 was at 27,773 million as against 29,649 million; recording de-growth of (6.3%). When viewed without taking into account the global sales of COVID-related products in the first quarter of FY 2021-22, the base business shows a year-on-year growth of 10.4% in the current fiscal, the company said in a statement. 

The company noted that adjusted EBITDA was 4,726 million in the quarter ended June 30, 2022 as against 5,736 million in the previous corresponding quarter, with margins of 17%. Reported EBITDA was 4,316 million in the quarter ended June with margins of 15.5%. 

Profit After Tax (PAT) for the quarter ended June 30, 2022 was at INR 2,111 million as compared to 3,065 million in the previous corresponding quarter, registering a decline of (31%) YoY, it said. 

“We delivered a strong double-digit growth in our base business during the quarter excluding the impact of COVID-related products. Europe and ROW markets performed well despite the challenging macro-economic environment; and the India base business also recorded strong growth. We continued to make significant progress in our innovation pipeline; with Ryaltris getting approvals across newer markets, and novel molecule GRC 54276 getting approval for conducting Phase 1 Clinical Trial," said Glenn Saldanha, Chairman and Managing Director, Glenmark Pharmaceuticals Ltd. He further added, “Our goal is to continue growing our base business through new product launches in our key focus areas of Respiratory, Dermatology and Oncology. We remain on track to achieve our guidance for FY 2022-23." 

“Sales from the India formulations business for the First Quarter of FY 2022-23 were at 10,352 million as against 12,250 million in the previous corresponding quarter, recording de-growth of (15.5%). This decline is on account of a high base of Covid-related product sales in Q1 FY 2021-22," the company said.

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Published: 10 Aug 2022, 08:20 PM IST
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