Glenmark Pharma Q4: PAT Falls 26% YoY, Dividend Recommended by Board

Glenmark Pharma Q4: PAT Falls 26% YoY, Dividend Recommended by Board
Credit: © Reuters.

By Malvika Gurung -- The pharmaceutical company Glenmark Pharmaceuticals (NS: GLEN ) reported its earnings for the March-ending quarter on Saturday, recording a fall in its profit figure in the period.

Its consolidated profit after tax declined 26% on a YoY basis to Rs 173 crore in Q4 FY22, compared to Rs 234 crore reported in the year-ago period.

Glenmark’s board of directors have recommended a dividend of Rs 2.5/share for FY22.

The company’s consolidated revenues climbed 6% YoY to Rs 3,019 crore in the quarter under review, and 12.4% YoY to Rs 12,305 crore in the full financial year 2021-22. In the year, its PAT marginally rose by 2.5% YoY to Rs 994 crore.

The firm successfully listed its subsidiary Glenmark Life Sciences (NS: GLEM ) in the Indian exchanges, out-licensed the deal for ISB 880 with Almirall and gained approval for the Ryaltris from the USFDA to establish the drug company as the leading innovation-driven pharma company in India, stated the company’s Chairman and MD Glenn Saldanha, as cited by PTI.

He added, “We delivered consistent performance throughout the year and achieved our key objectives, despite the challenging global macro environment.”

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