Q1 2024 Glenmark Pharmaceuticals Ltd Earnings Call Transcript

Aug 14, 2023 / 04:00AM GMT
Operator

Good morning, ladies and gentlemen. Welcome to the Q1 FY '24 Earnings Conference Call of Glenmark Pharmaceuticals Limited.

(Operator Instructions) Please note that this conference is being recorded.

I now hand the conference over to Mr. Utkarsh Gandhi, General Manager, Investor Relations, for Glenmark Pharmaceuticals. Thank you.

And over to you, sir.

Utkarsh Gandhi -

Thank you, Lizan. Good morning, everyone, and welcome to the Q1 FY '24 Results Conference Call of Glenmark Pharmaceuticals Limited. Let us review the overall performance of the company for the first quarter of FY '24.

Glenmark's consolidated revenue from operations for the first quarter of FY '24 was at INR 34,106 million (sic) [INR 34,016 million], as against INR 27,773 million in the corresponding quarter last year, recording an overall year-on-year growth of 22.5%. We'll review each of the businesses of Glenmark Pharmaceuticals Limited, starting off with India.

Sales from the formulation business in India for Q1 FY '24 were at INR 10,643 million, as

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