Glenmark Pharma Q1 Profit Soars 2x to Rs 340 Cr | Business News

By By Rediff Money Desk, New Delhi
Aug 14, 2024 19:02
Glenmark Pharmaceuticals reported a two-fold increase in net profit to Rs 340 crore for Q1 FY24, driven by strong revenue growth and improved margins.
New Delhi, Aug 14 (PTI) Glenmark Pharmaceuticals on Wednesday reported over two-fold increase in the consolidated net profit to Rs 340 crore for the first quarter ended June 30.

The Mumbai-based drug firm had reported a net profit of Rs 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 Rs 3,244 crore compared to Rs 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, he 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 stated.
Source: PTI
Read More On:
net profitrevenue growthpharmaceuticalsq1 resultsglenmark pharma
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.

You May Like To Read

MORE NEWS

Small Tea Growers...
Small Tea Growers Seek Curb on Sub-Standard...

Indian small tea growers urge the government to restrict sub-standard tea imports from...

Nuvama-Cushman &...
Nuvama-Cushman & Wakefield JV Raises Rs 1,700...

Nuvama and Cushman & Wakefield JV raises Rs 1,700 crore for its Prime Offices Fund,...

HUL Stock Falls...
HUL Stock Falls 4% After Disappointing Earnings

Hindustan Unilever (HUL) stock dropped nearly 4% after its December quarter earnings...

CCPA Issues...
CCPA Issues Notice to Apple Over iPhone...

India's Consumer Protection Authority (CCPA) has issued a notice to Apple over reported...

AWS to Invest USD 8.3 Billion in Maharashtra...

AWS announces a USD 8.3 billion investment in cloud infrastructure in Maharashtra by...

NDA 3.0 Budget: Subbarao Urges Structural Reforms

Former RBI Governor D. Subbarao calls for structural reforms in the upcoming budget,...

Stallion India Fluorochemicals Debuts at 33%...

Stallion India Fluorochemicals shares surged over 33% on their debut trade, hitting the...

Walmart Pilots India Startups for Supply Chain...

Walmart partners with Indian startups for supply chain solutions, including sustainable...

Indian Markets Rise After Initial Dip: IT &...

Indian stock markets, Sensex and Nifty, reversed early losses to trade higher on...

Rupee Falls 5 Paise to 86.40 vs US Dollar

The Indian rupee weakened 5 paise to 86.40 against the US dollar in early trade on...

Read More »

Sectoral Indices Market Indicators Listed Companies Gainers Losers Mutual Funds Portfolio Watchlist
© 2025 Rediff.com