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ICICI Direct Report
Glenamark Pharmaceuticals Ltd.’s Q2 revenues grew 4.9% YoY to Rs 2953 crore with 17.2% YoY growth in domestic sales to Rs 1051 crore due to additional contribution from Fabiflu (favipiravir) being partly offset by 11.3% decline in U.S. to Rs 752 crore.
Europe business grew 11.6% YoY to Rs 318 crore. Rest of World markets grew 9.1% YoY to 381 crore while the active pharmaceutical ingredient segment grew 19.1% YoY to Rs 321 crore.
Ebitda margins improved 272 basis points YoY to 18.7% mainly due to lower other expenditure.
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