Glenmark Pharmaceuticals stock surged up to 5.68 per cent, hitting its all time high at Rs 1,576 per share on the NSE in Friday’s intraday trade. This came after the company on Wednesday reported its quarterly earnings for the first April-June of the financial year 2024-25 (Q1FY25)
For the first quarter of FY25, Glenmark Pharmaceuticals reported consolidated revenue from operations of Rs. 3,244 crore, up from Rs. 3,036 crore in the same quarter last year, reflecting a year-on-year (YoY) growth of 6.9 per cent.
Profit After Tax (PAT) was at Rs 340 crore, down 12.38 per cent from Rs 370 crore in the June quarter of FY24.
Earnings before interest, tax, depreciation and amortisation (Ebitda) for the quarter ending June 30, 2024, reached Rs. 588 crore, a YoY rise of 34.5 per cent, with an Ebitda margin of 18.1 per cent from 14.4 per cent in the corresponding quarter of previous year.
In India, sales from the formulation business for Q1 FY25 were Rs. 1,196.2 crore, compared to Rs. 1,069.3 crore in Q1 FY24, showing an 11.9 per cent growth.
In North America, Glenmark’s revenue was Rs. 780.8 crore for the first quarter of FY25, compared to Rs 818 crore for the previous quarter, reflecting a YoY decline of 4.4 per cent.
In Europe, the company’s revenue for Q1 FY25 was Rs. 695.7 crore, up from Rs. 573.2 crore in Q1 FY24, representing a YoY growth of 21.4 per cent.
Revenue from the Rest of the World (ROW) region, rood at Rs. 570.8 crore in Q1 FY25, compared to Rs. 552.8 crore in the corresponding quarter last year, a 3.3 per cent YoY growth.
“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,” said Glenn Saldanha, Chairman and Managing Director, Glenmark Pharmaceuticals.
At 01:27 PM; the stock of the company was trading 4.81 per cent higher at Rs 1,563 per share on the NSE. By comparison, the NSE Nifty50 rose 1.28 per cent at 24,452 levels.
First Published: Aug 16 2024 | 1:36 PM IST
