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Glenmark Pharma Q2 Results: Net profit plunges 56% to Rs 264 crore, revenue down at Rs 4,247 cr

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In short

Glenmark Pharmaceuticals posted lower quarterly revenue and net earnings, while also trimming total operational expenses compared to the previous year. During this timeframe, its American subsidiary concluded a $15 million settlement with Humana Inc. without admitting any legal wrongdoing. Management maintained confidence in meeting FY27 targets, citing international product rollouts such as RYALTRIS and eventual launches from its partnered oncology portfolio.

Key points

  • The pharmaceutical firm maintains that its long-term financial guidance for FY27 remains…: The pharmaceutical firm maintains that its long-term financial guidance for FY27 remains fully on track.
  • Global expansion of the respiratory drug RYALTRIS continues following its recent commerci…: Global expansion of the respiratory drug RYALTRIS continues following its recent commercial debut in Brazil.
  • The company anticipates its initial commercial oncology launch through partnered pipeline…: The company anticipates its initial commercial oncology launch through partnered pipelines toward the end of FY27.

Sources checked by our analysis pipeline: 1

The company had posted a consolidated profit after tax (PAT) of Rs 610.43 crore in the corresponding quarter of the preceding fiscal.

Consolidated total revenue from operations in the second quarter of the current fiscal stood at Rs 4,247.32 crore, down from Rs 6,046.87 crore a year ago, Glenmark Pharmaceuticals said in a regulatory filing post-market hours.

Total expenses in the quarter under review dropped to Rs 3,627.70 crore as compared to Rs 3,894.98 crore a year ago, the company said.

During the September quarter, Glenmark Pharmaceuticals USA, a subsidiary of the company, entered into a settlement with Humana Inc for USD 15 million.

"The settlement makes clear that Glenmark denies each and every one of its allegations against it and the settlement is not based on Glenmark having considered or admitted any liability or illegality," it said.

Glenn Saldanha, Chairman and Managing Director, Glenmark Pharmaceuticals Ltd, said, "We remain on track to deliver our FY27 guidance with continued growth in India, a strong recovery in North America supported by multiple launches, and robust performance across Emerging Markets.

"RYALTRIS continues…

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