Glenmark Pharma Q1 Net Profit Falls 86% YoY to ₹47 Crore

18 Aug 2025 , 01:03 PM

Glenmark Pharmaceuticals reported a sharp 86.2% year-on-year decline in net profit for the June quarter of FY26, with profit falling to ₹46.8 crore. This is compared to ₹340.2 crore in the same period last year. Revenue rose 0.6% to ₹3,264 crore from ₹3,244 crore a year ago.

Operating performance was slightly weaker, with EBITDA dipping 1.4% to ₹580 crore from ₹588.2 crore. The EBITDA margin narrowed to 17.7%. This is compared with 18.1% in the same quarter of FY25.

In India, sales from the formulations business grew 3.7% year-on-year. It hits ₹1,239.9 crore against ₹1,196.2 crore in the prior year. North America delivered a strong performance. Its revenue rise 8.9% sequentially to ₹778 crore. This is driven by gains in injectable product launches and partnered products.

Revenue from emerging markets, including RCIS, LATAM, MEA, and APAC, stood at ₹572.1 crore, almost flat against ₹570.8 crore last year, marking a marginal 0.2% growth. The company expects double-digit growth in these regions on a constant currency basis.

In Europe, revenue slipped 4%, falling to ₹6,678 million compared with ₹6,957 million a year earlier. Glenmark highlighted progress on new product launches. Its nasal spray Ryaltris has now been submitted for approval in over 90 countries and is commercialised in more than 45 markets, with another 10–12 launches planned in the coming quarters.

For oncology drug QiNHAYO (envafolimab), Glenmark filed marketing applications in around 15 markets during FY25, with the first launch expected in FY26. Alongside its partner Cosmo, the company secured approval from the UK’s MHRA to market acne drug Winlevi. The product has already been launched in the UK, with approvals in other European markets likely by the end of FY26.

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