Glenmark Pharma Q3 Profit Rises to Rs 348 cr

New Delhi, Feb 14 (PTI) Glenmark Pharmaceuticals on Friday said its consolidated profit after tax stood at Rs 348 crore for the third quarter ended December 31, 2024, aided by strong performance across regions.

The drug firm reported a loss of Rs 351 crore in the October-December quarter of the last fiscal.

Consolidated revenue stood at Rs 3,388 crore in the third quarter as against Rs 2,507 crore in the year-ago period, the Mumbai-based company said in a statement.

"We delivered strong and sustained growth this quarter, driven by robust performance across the regions," Glenmark Pharmaceuticals Chairman and Managing Director Glenn Saldanha said.

The company's European business continued to perform well, while its branded markets demonstrated resilient growth, he added.

"Looking ahead, we expect our North America business to gain momentum from FY26 onwards, supported by our growing respiratory and injectable portfolio," Saldanha said.

In a separate filing to the bourses, the company said that the US Food & Drug Administration (USFDA) conducted a GMP inspection at its manufacturing facility in Indore, Madhya Pradesh, from February 3 to 14, 2025. "At the end of the inspection, the company was issued a Form 483 with five observations. There was no observation related to data integrity," it said.

The company will work in close collaboration with the agency to address the observations and will respond to the USFDA within the stipulated timeline, it added. The company said its board has approved the appointment of Pradeep Kumar Sinha, former Cabinet Secretary, as an additional director designated as Non-Executive – Independent Director.

Glenmark shares on Friday ended 6.28 per cent down at Rs 1,321.35 apiece on BSE.