Shares of Glenmark Pharmaceuticals Ltd. were trading lower by 2% on Friday, November 6, after the company reported its September quarter (Q2FY27) results, with revenue exceeding analyst estimates, while net profit and EBITDA declined sharply year-on-year.
The pharmaceutical company reported a 56.7% year-on-year decline in consolidated net profit to ₹264 crore, compared with ₹610 crore in the corresponding quarter last year.
Revenue fell 29.8% to ₹4,247.3 crore from ₹6,046.8 crore a year ago. However, the topline figure was better than estimates.
EBITDA declined 63.4% year-on-year to ₹864 crore, compared with ₹2,360 crore in the year-ago period. The EBITDA margin contracted to 20% from 39% a year earlier, in line with expectations.
Geography-wise performance
Glenmark’s India business reported revenue of ₹1,327.4 crore, up 704.2% from ₹165.1 crore in the year-ago quarter. However, on a like-for-like basis, the company’s India formulation business recorded year-on-year growth of around 14% in Q2FY27.
Revenue from North America declined 72.9% to ₹1,208.9 crore from ₹4,465.6 crore in the corresponding quarter last year. In dollar terms, US sales stood at $126.6 million, above the estimated $105 million, but down from $516.7 million a year ago.
The company said North American revenue for Q2FY27 included the recognition of deferred out-licensing income for ISB 2001. Excluding this, the core business in the region recorded year-on-year growth of 31%.
Meanwhile, revenue from Europe increased 6.2% to ₹792 crore from ₹746 crore in the year-ago period. Emerging Markets (EM) revenue rose 33.2% to ₹876.9 crore, compared with ₹658.5 crore a year earlier.
Shares of Glenmark Pharmaceuticals settled 0.91% lower at ₹2,481.80 on Thursday, November 5. The stock has gained over 22% so far in 2026.
Glenmark Pharma shares fall despite better-than-expected US sales in Q2, 14% growth in India biz