Glenmark Pharma PAT grows 10.1%, revenue grows 6.6% in Sept quarter

Glenmark Pharmaceuticals Limited announced its financial results for the second quarter ended Sept 30, 2021.

Glenmark Pharmaceuticals Limited, a research-led global integrated pharmaceutical company, today announced its financial results for the second quarter ended Sept 30, 2021.

For the second quarter of FY 2021-22, Glenmark's consolidated revenue was at Rs 31,474 Mn as against Rs 29,525 Mn recording an increase of 6.6%.

Consolidated EBITDA was at Rs 5,902 Mn in the quarter ended Sept 30, 2021 as against Rs 5,699 Mn in the previous corresponding quarter, registering an increase of 6.8%.

Profit after Tax (PAT) was at Rs 2,577 Mn for the quarter ended Sept 30, 2021 as compared to Rs 2,340 Mn in the previous corresponding quarter, recording a growth of 10.1%.

"We delivered yet another quarter of consistent performance, both in revenue growth and profitability. We have continued to perform well in our core therapy areas and launched differentiated products." said Glenn Saldanha, Chairman & Managing Director, Glenmark Pharmaceuticals Ltd.

He further added, "We have substantially reduced our debt through a combination of internal accruals and IPO proceeds. We are focused on enhancing free cash generation and achieving our strategic objectives going forward.

GLENMARK PHARMACEUTICALS LTD. (GPL)

India

Sales from the formulation business in India for the Second Quarter of FY 2021-22 was at Rs 9,689 Mn as against Rs 10,507 Mn in the previous corresponding quarter, recording de-growth of (7.8)%.

USA

Glenmark Pharmaceuticals Inc., USA registered revenue from the sale of finished dosage formulations of Rs 7,543 Mn for the quarter ended Sept 30, 2021 as against revenue of Rs 7,522 Mn for the previous corresponding quarter, recording growth of 0.3%.

Africa, Asia and CIS Region (ROW)

For the second quarter of FY 2021-22, revenue from Africa, Asia and CIS region was Rs 6,526 Mn as against Rs 3,806 Mn for the previous corresponding quarter, recording growth of 71.5%.

Europe

Glenmark Europe's operations revenue for the second quarter of FY 2021-22 was at Rs 3,383 Mn as against Rs 3,181 Mn recording growth of 6.3%.

Latin America

Glenmark's revenue from its Latin American & Caribbean operations was at Rs 960 Mn for the second quarter of FY 2021-22 as against Rs 984 Mn, recording revenue decline of (2.4)%.

GLENMARK LIFE SCIENCES LTD. (GLS)

For the second quarter of the financial year, Glenmark Life Sciences Limited (GLS) registered revenues from operations including captive sales of Rs 5,618 Mn as against Rs 5,208 Mn, growing at 7.9% YoY. Generic API revenues grew at 18.2% YoY and CDMO segment registered a growth of 25.2% YoY in the first half of this financial year. Growth in Generic API was led by robust demand in key regulated markets mainly North America, LATAM & Japan. The EBITDA margins stood at 30.2% for Q2 FY 2021-22.

For the Q2 FY 2021-22, external sales for Glenmark Life Sciences was at Rs 3,354 Mn as against Rs 3,213 Mn, recording growth of 4.4% over the corresponding period last year. The growth was impacted due to higher base of COVID products in the previous year.

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ICHNOS Sciences

For the second quarter of the financial year, Glenmark invested Rs 1,850 Mn as compared to Rs 2,250 Mn invested in the corresponding quarter of the previous financial year. For the first six month of the current financial year, Glenmark has invested Rs 3,467 Mn as compared to Rs 3,980 Mn invested in the corresponding period of the previous financial year.

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