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Glenmark Profit Drops Amid Revenue Slump
5 Nov
Summary
- Q2 profit declined 56.7% to ₹264 crore.
- Revenue fell 29.8% to ₹4,247.3 crore in Q2.
- Company remains on track for FY27 guidance.
Glenmark Pharmaceuticals experienced a notable decrease in its financial performance for the September quarter. Consolidated net profit dropped by 56.7% compared to the previous year, settling at ₹264 crore. Correspondingly, revenue decreased by 29.8%, reaching ₹4,247.3 crore.
Despite the reported earnings dip, Glenmark maintains its positive outlook, stating it is on track to achieve its FY27 guidance. This confidence stems from steady growth observed in its core markets, including India, North America, Europe, and emerging markets. The company also highlighted progress in its innovation pipeline.
Looking ahead, Glenmark anticipates continued expansion with its drug RYALTRIS and the potential commercialization of its partnered innovative oncology pipeline, with a first launch targeted by the end of FY27. Further advancements are expected from its innovation subsidiary, IGI, with promising data for ISB 2001 and an upcoming IND application for ISB 2301.
