Glenmark Pharma reports revenue of Rs. 27,773 mln for Q1 FY 2022-23

Mumbai: Glenmark Pharmaceuticals Ltd consolidated revenue for Q1 FY 2022-23 was at Rs. 27,773 million as against Rs. 29,649 million; recording de-growth of 6.3 per cent. 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 per cent in the current fiscal.

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

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

Glenn Saldanha, Chairman and Managing Director, Glenmark Pharmaceuticals 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.”