Glenmark Pharma reports 31% drop in net profit to Rs 211 crore

The company had the benefit of higher base due to the sale of Covid drugs during the corresponding quarter of the previous year, where it had reported a net profit of Rs 306.5 crore.

On a quarter-on-quarter (QoQ) basis, the net profit rose 22.3%.

Revenue from operations declined 6.3% YoY to Rs 2777 crore in Q1FY23 compared to Rs 2965 crore in Q1FY22.


The earnings before interest, tax, depreciation and ammortisation (EBITDA) stood at Rs 4316 crore, a decline of 24.8% YoY.

The EBITDA margins for the quarter dropped 460 basis points to 15.5% in Q1FY23 compared to 19.3% in Q1FY22.

India sales saw a drop of 15.5% YoY to Rs 1035 crore on account
of a high base due to sales of Covid-related products last year

Glenmark is ranked 14th with a market share of 2.17%

Sales from North America fell 10.2% YoY to Rs 663 crore. Europe sales saw 8% YoY to Rs 330 crore, and the rest of the world rose 26% to Rs 423 crore.