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, according to its stock exchange filing.

Earnings before interest, tax, depreciation and amortisation (EBITDA) dropped 63.4 per cent to Rs 864 crore from Rs 2,360 crore, while EBITDA margin contracted sharply to 20 per cent from 39 per cent in the year-ago quarter.

Despite the decline in reported earnings, the company said its underlying business remained resilient and that it continues to be on track to achieve its FY27 guidance.

The India formulations business delivered strong performance during the quarter, with revenue rising to Rs 1,327.4 crore and registering like-for-like growth of around 14 per cent year-on-year.

In North America, revenue stood at Rs 1,208.9 crore. The company said that excluding the recognition of deferred out-licensing income related to ISB 2001, its core North American business recorded growth of around 31 per cent year-on-year.

European operations also remained steady, with revenue increasing 6.2 per cent to Rs 792 crore.

Revenue from emerging markets rose 33.2 per cent to Rs 876.9 crore, as per its regulatory filing.

The company said its respiratory brand RYALTRIS continued to expand globally, with the recent launch in Brazil marking an important milestone.

It added that its partnered oncology pipeline is progressing toward commercialisation, with the first product launch expected by the end of FY27.

Glenmark’s innovation subsidiary, IGI, continued to advance its multispecific oncology pipeline.

Phase 1 data for ISB 2001 has been selected for oral presentation at the 2026 American Society of Hematology (ASH) Annual Meeting, while the company plans to submit an investigational new drug application for ISB 2301 by the end of the year.

Shares of Glenmark Pharmaceuticals ended 0.65 per cent lower at Rs 2,485.50 on the BSE ahead of the earnings announcement.

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