Glenmark Pharmaceuticals Ltd. reported a sharp surge in its September quarter performance, driven by a one-time income from AbbVie, even as underlying operations were weighed down by GST-related disruptions in India.

The company's reported revenue jumped 76% year-on-year to ₹6,047 crore, which includes a one-time payment of ₹3,670 crore from AbbVie as part of its licensing agreement. Adjusted for this, core revenue stood at ₹2,380 crore, down 30.8% YoY.

Net profit came in at ₹610 crore, aided entirely by the exceptional income. Without it, Glenmark would have reported a net loss of ₹900 crore for the quarter. The company also posted an operational loss of ₹870 crore in Q2.

Domestic formulations revenue plunged 87.1% YoY to ₹160 crore, forming just 7% of total sales, as the company under

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