Glenmark Pharmaceuticals Q2 Profit Plunges 56.7% To ₹264 Crore
Mumbai: Glenmark Pharmaceuticals on Thursday reported a 56.7 per cent year-on-year (YoY) decline in consolidated net profit to Rs 264 crore for the quarter ended September 2026 (Q2 FY27), compared with Rs 610 crore in the corresponding period last financial year (Q2 FY26). The drugmaker’s revenue from operations fell 29.8 per cent to Rs 4,247.3 crore from Rs 6,046.8 crore a year earlier,…
Glenmark Pharmaceuticals disclosed a significant 56.7% year-over-year decline in its net profit for the quarter concluding September 2026, reporting a consolidated profit of Rs 264 crore. This represents a sharp decrease from the Rs 610 crore earned during the same period last year. The company's revenue from operations also took a nosedive, falling 29.8% to Rs 4,247.3 crore, compared to Rs 6,046.8 crore a year prior.
Earnings before interest, tax, depreciation, and amortisation (EBITDA) contracted by 63.4% to Rs 864 crore, while the EBITDA margin fell dramatically to 20% from 39% in the prior quarter. Despite this financial setback, Glenmark's management maintains that its core business continues to function effectively and remains aligned with its projected FY27 targets.
The India formulations segment exhibited robust performance, with revenue growing to Rs 1,327.4 crore, reflecting a like-for-like growth of around 14% year-on-year. In North America, the company reported revenue of Rs 1,208.9 crore. Excluding deferred out-licensing income from ISB 2001, Glenmark's core North American business showed a 31% year-on-year growth.
European operations maintained a steady revenue of Rs 792 crore, while emerging markets saw a notable 33.2% increase to Rs 876.9 crore. Glenmark's respiratory brand, RYALTRIS, continued to expand globally, with the recent launch in Brazil being a notable achievement. The company also highlighted that its oncology pipeline is advancing toward commercialisation, with the first product launching by the end of FY27.
Glenmark's innovation subsidiary, IGI, remains dedicated to progressing its multispecific oncology pipeline. Phase 1 data for ISB 2001 has been selected for presentation at the 2026 American Society of Hematology Annual Meeting, and the company plans to submit an investigational new drug application for ISB 2301 by year-end. Glenmark Pharmaceuticals' shares experienced a 0.65% drop to Rs 2,485.50 on the BSE following the earnings announcement.
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