This Article is From Jan 24, 2014

Glenmark Q3 net rises 1.56 per cent to Rs 216 crore

Glenmark Q3 net rises 1.56 per cent to Rs 216 crore
New Delhi:

Glenmark Pharmaceuticals on Friday posted a consolidated net profit of Rs 216.23 crore for the third quarter that ended on December 31, 2013, on account of robust sales across various business verticals.

The drug firm had posted a net profit of Rs 212.91 crore for the corresponding period a year ago.

Consolidated net sales of the company stood at Rs 1,601.22 crore for the quarter ended December, 2013, which were at Rs 1,381.25 crore the previous fiscal year, Glenmark Pharmaceuticals Ltd said in a statement.

The results for the quarter are not comparable due to out-licensing income of Rs 49.30 crore received in the previous corresponding quarter, it added.

"Despite challenges in the operating environment, we have registered good growth in both our speciality and generics businesses across the globe," Glenmark chairman and managing director Glenn Saldanha said.

The company is reasonably confident of maintaining its growth trajectory with emerging markets businesses being a key growth driver going ahead, he added.

Glenmark said revenues generics business rose to Rs 737.26 crore during the quarter, from Rs 591.10 crore during the same period of previous fiscal year.

During the period under review, the company's speciality formulation business posted revenues of Rs 863.95 crore. The figure stood at Rs 740.84 crore in the same period of previous financial year.

Shares in Glenmark Pharma, on Friday, ended at Rs 509.55 apiece on the BSE, up 0.24 per cent from the previous close.