Glenmark Life Sciences Q4 Results: Net Profit Dips 33% To Rs 98 Crore

Glenmark Life Sciences on Thursday said its net profit declined 33% to Rs 98 crore for the March quarter ended March 31, 2024. The company had posted a net profit of Rs 146 crore in the year-ago period.

Revenue from operations declined to Rs 536 crore for the period under review from Rs 621 crore a year ago, the company said in a regulatory filing.

For the year ending March 31, 2024, the company reported a net profit of Rs 471 crore as against Rs 467 crore in the year-ago period, it said.

"We concluded the financial year on a positive note with revenue growth of 5.6 per cent on a full year basis, driven by regulated markets in external business," Glenmark Life Sciences MD & CEO Yasir Rawjee said.

The company's commitment to high-quality, innovative solutions and scalability will fuel sustainable long-term growth, he added.

"These, coupled with a strong order book and demand visibility will ensure steady growth in FY25 and beyond," Rawjee said.

Shares of the company were trading 8.3% down at Rs 757.65 apiece on the BSE.