Q1FY21 results: Glenmark net profit rises by 132 per cent YoY

Glenmark Pharmaceuticals Limited, a research-led global integrated pharmaceutical company, announced its quarterly results on August 14, 2020. The company posted a consolidated net profit of Rs 254.04 crore for Q1FY21, which increased by 132.47 per cent YoY, as compared to Q1FY20 when it reported Rs 109.28 crore.                                                                                                                                                         

The consolidated net sales reported in Q1FY21 came in at Rs 2,344.79 crore, which increased by 0.94 per cent YoY from Rs 2,322.88 crore in Q1FY20. At EBITDA level, the company stood at Rs 478.07 crore in Q1FY21 that increased by 39.82 per cent YoY. For Q1FY20, it posted an EBITDA of Rs 341.91 crore.                                                                                                                                                               

EBITDA margin as of Q1FY21 was at 20.39 per cent that increased by 5.67 per cent YoY. The net profit margin in Q1FY21 came in at 10.83 per cent, which increased by 6.13 per cent YoY. The net profit margin in Q1FY20 was at 4.7 per cent.

Sales in domestic market recorded a growth of 3.68 per cent YoY to Rs 779.89 crore for the first quarter of FY21, compared to Rs 752.21 crore for the corresponding quarter, previous year.

Revenue from Glenmark Pharmaceuticals Inc., USA , registered a growth of 1.61 per cent from sale of finished dosage formulations to Rs 742.64 crore for Q1FY21, as against Rs 730.89 crore for the corresponding quarter, previous year.

On Monday, the shares of Glenmark gained 4 per cent in the early trading session. At around 11:18 am, the share is trading at Rs 488.6 per piece with a growth of 2.78 per cent on BSE.