Glenmark Pharma reverses losses; stock trades 5% higher post Q1 results announcement

The pharma company declared their June quarter (Q1 FY25) earnings on Wednesday, wherein it reported over a two-fold increase in the consolidated net profit to ₹340 crore for the first quarter ended June 30.

The Mumbai-based drug firm had reported a net profit of ₹150 crore in the April-June quarter of the last fiscal.

For the period under review, the firm said its consolidated revenue from operations stood at ₹3,244 crore, compared to ₹3,036 crore in the June quarter last year.

"Our strong start to the new financial year reflects our robust revenue growth across key regions and solid operational performance, leading to a significantly improved margin profile," Glenmark Pharmaceuticals Chairman and Managing Director Glenn Saldanha said.

The company's India business continues to excel, outpacing the domestic market with expertise in core therapeutic areas, while Europe built on its FY24 success with further growth in the branded segment, Saldanha added.

"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," Saldanha said further.

Glenmark Pharma stock performance

Shares of the company have given over 87% returns in the past 12 months and 313% in the past five years. In comparison, the Nifty Pharma index has rallied around 44% in one year and nearly 188% over the last five years. Meanwhile, the benchmark NIFTY50 has increased by 121% in the five-year period.