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

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.