Glenmark Life Q4 results: Net profit dips 33% to ₹98 crore, revenue declines to ₹536 crore
Upstox
1 min read • Updated: April 25, 2024, 4:43 PM
Summary
Glenmark Life Sciences reported a net profit of ₹471 crore for the year ending March 31, 2024, a significant increase from ₹146 crore in the previous year. However, revenue from operations declined by 13.69% to ₹536 crore. Despite the decline in revenue, the company is optimistic about future growth, citing a strong order book and demand visibility.
Glenmark Life Sciences had posted a net profit of ₹146 crore in the year-ago period. Revenue from operations declined to ₹536 crore for the period under review from ₹621 crore a year ago, the company said in a regulatory filing.
For the year ending March 31, 2024, the company reported a net profit of ₹471 crore as against ₹467 crore in the year-ago period, it said. "We concluded the financial year on a positive note with revenue growth of 5.6% on a full year basis, driven by regulated markets in external business," Glenmark Life Sciences MD & CEO Yasir Rawjee said.
The company's commitment to high-quality, innovative solutions and scalability will fuel sustainable long-term growth, he added. "These, coupled with a strong order book and demand visibility will ensure steady growth in FY25 and beyond," Rawjee said. Shares of the company closed 6.2% down at ₹775 apiece on the NSE.