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Informist, Friday, May 23, 2025

 

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--Glenmark Jan-Mar consol net profit INR 46.50 mln 
--Analysts saw Glenmark Jan-Mar consol net profit INR 2.85 bln 
--Glenmark Jan-Mar consol PAT INR 46.50 mln vs INR 12.18 bln loss year ago 
--Glenmark Jan-Mar one-time cost is INR 3.73 bln 
--Glenmark Jan-Mar consol revenue INR 32.56 bln vs INR 30.63 bln year ago 
--Glenmark to pay INR 2.5 per share dividend for FY25 
--Glenmark FY25 consol PAT INR 10.47 bln vs INR 15.02 bln loss year ago 
--Glenmark FY25 consol revenue INR 133.22 bln vs INR 118.13 bln year ago 
--Glenmark Jan-Mar consol EBITDA INR 5.61 bln vs INR 5.04 bln year ago 
--Glenmark FY25 consol EBITDA INR 23.51 bln vs INR 11.95 bln year ago 
--Glenmark Jan-Mar consol EBITDA margin 17.2% 
--Glenmark FY25 consol EBITDA margin 17.6% 
 

By Shakshi Jain

 

MUMBAI – Glenmark Pharmaceuticals Ltd. late Friday reported a significantly lower-than-expected consolidated net profit for the March quarter owing to a substantial one-time cost incurred by the company during the quarter. Excluding the one-time cost, the company's bottom line surpassed analysts' expectation by a wide margin.

 

Glenmark Pharma posted a bottom line of INR 46.50 million for Jan-Mar owing to the one-time cost of INR 3.73 billion. Upon excluding the impact of the one-time cost, the drugmaker's net profit for the quarter amounts to INR 3.47 billion, the company said in a press release. This is substantially higher than the INR 2.85 billion expected by analysts.

 

Glenmark Pharma recorded INR 17.50 billion as a one-time cost towards the reworked settlement amount paid to three plantiff groups in the US in relation to multiple antitrust and consumer protection lawsuits. In addition, it recorded an exceptional loss of INR 19.78 billion due to restructuring and manpower costs related to its innovation arm Ichnos Glenmark Innovation.

 

The drugmaker's consolidated revenue for the reporting quarter rose over 6% on year but fell almost 4% sequentially to INR 32.56 billion. The top line also missed Street expectations by a wide margin. Analysts had expected the company to report a top line of INR 34.20 billion.

 

The company's total expenses during the quarter grew marginally on year to INR 28.87 billion, led by a sharp double-digit rise in expenses related to purchases of stock-in-trade. The cost of materials consumed, which is the largest chunk of Glenmark Pharma's expenditure pie, rose over 5% on year to INR 7.95 billion. Expenses related to purchases of stock-in-trade shot up by almost 64% to INR 3.45 billion. Staff costs grew around 5% on year to INR 7.37 billion for the quarter and its other expenses rose marginally to INR 8.70 billion. The increases were buffered by a decline of over 55% on year in the company's finance costs to INR 667.12 million and a fall of over 17% on year in its depreciation, amortisation, and impairment costs to INR 1.25 billion.

 

Glenmark Pharma's consolidated earnings before interest, taxes, depreciation, and amortisation for Jan-Mar was INR 5.61 billion with an EBITDA margin of 17.2%.

 

For the financial year 2024-25 (Apr-Mar), the pharmaceutical company reported a consolidated net profit of INR 10.47 billion. It had reported a loss of INR 15.02 billion for FY24. The company's consolidated revenue for FY25 was INR 133.22 billion, up from INR 118.13 billion the previous year. Its consolidated EBITDA for FY25 was INR 23.51 billion with an EBITDA margin of 17.6%.  

 

Glenmark Pharma announced a dividend of INR 2.5 per share for FY25. The company detailed its earnings for the quarter and full year after market hours. Friday, shares of the company closed almost 1% lower at INR 1,420.20 on the National Stock Exchange.  End

 

Edited by Rajeev Pai

 

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