Glenmark Pharmaceuticals Ltd., an innovation driven, global pharmaceutical company, Q3 FY2022-23 consolidated revenue was at Rs. 3,463.9 crore as against Rs. 3,173.4 crore, recording an increase of 9.2% YoY (Year-on-Year).

 

Consolidated EBITDA was at Rs. 620.2 crore in the quarter ended December 31, 2022, with margins of 17.9%. Profit After Tax (PAT) for the quarter ended December 31, 2022 was at Rs. 290.8 crore as compared to Rs. 239.8 crore in the previous corresponding quarter, registering a growth of 21.3% YoY.

 

“We had yet another quarter with a strong performance led by robust growth across all our markets despite the challenging macroeconomic conditions. Our India business continued to record a healthy increase in secondary sales. The US business recovered well as the year progressed. The RoW and EU businesses also reflected formidable growth during the quarter. Our global respiratory portfolio gained momentum with the impressive performance of our novel drug Ryaltris across all markets where it was launched,” said Glenn Saldanha, Chairman & Managing Director, Glenmark Pharmaceuticals Ltd.

 

Sales from the India formulation business for the third quarter of FY 2022-23 were at Rs. 1,074.5 crore as against Rs. 1,006.9 crore in the previous corresponding quarter, recording growth of 6.7%.

 

North America registered revenues of Rs. 837.3 crore in Q3 FY 2022-23; recording growth of 10.6%, as against revenue of Rs. 756.7 crore for Q3 FY 2021-22.

 

For the third quarter of FY 2022-23, revenues from the RoW region were Rs. 654.1 crore as against Rs. 534.8 crore for the previous corresponding quarter, recording growth of 22.3%. Glenmark Europe operations revenues for Q3 FY 2022-23 were at Rs. 493.2 crore as against Rs. 380.7 crore, recording growth of 29.5%.