Glenmark Presented Financial Results for 1QFY20

| By | Financial Results, Glenmark
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Glenmark Pharmaceuticals Limited, a research-led global integrated pharmaceutical company, announced its financial results for the first quarter ended June 30 of the financial year 2019 – 20.

For the first quarter ended June 30, 2019, Glenmark’s consolidated revenue was at Rs. 23,228.79 Mn. (USD 334.22 Mn.) as against 21,656.17 Mn. (USD 323.76 Mn.), recording an increase of 7.26%.

Consolidated Net Profit was at Rs. 1092.81 Mn. for the quarter ended June 30, 2019 as compared to Rs. 2329.90 Mn. in the previous corresponding quarter, registering a decrease of 53.10%. The figures are not comparable as the last financial year included onetime forex gain of Rs. 1382.16 Mn.

Consolidated EBITDA (excluding other income) was at Rs. 3419.12 Mn. in the quarter ended June 30, 2019 as against Rs. 3468.83 Mn. in the previous corresponding quarter, registering a decrease of 1.43%.

“Our first quarter performance in key markets like India and Europe was impressive on account of new product launch and partnership deals. However, the overall performance was impacted due to moderate performance in the U.S. and subdued performance in LATAM,”

said Glenn Saldanha, Chairman & MD, Glenmark Pharmaceuticals.

“We have a strong innovation pipeline of six assets in various stages of development in the areas of immunology, oncology and pain management. We will continue to steadily invest in the new innovation business with an objective of accelerating the pipeline towards commercialization.”

Highlights for Q1 FY 2019 – 20

  • India Business grew by 13.41% to Rs. 7,522.19 Mn.
  • US Business grew by 3.86% to Rs. 7,308.93 Mn.
  • Europe Business grew by 10.50% to Rs. 2,428.54 Mn.
  • ROW Business grew by 5.43% to Rs. 2,587.27 Mn.
  • Latin America Business de-grew by 16.89% to Rs. 811.24 Mn.
  • API Business grew by 9.77% to 2,306.01 Mn.