Glenmark’s consolidated revenue increases by 18.98 per cent to Rs 12,378.82 million for Q1 FY 13-14

Glenmark Pharmaceuticals has announced its results for the three month period ended June 30, 2013. For the first quarter ended June 30, 2013, Glenmark’s consolidated revenue was at Rs 12,378.82 million ($221.85 million) as against Rs 10, 404.07 million ($190.62 million) an increase of 18.98 per cent. Revenue from the generics business was at Rs 6,242.58 million ($ 111.88 million), as against Rs 5,300.00 million ($97.11 million), a growth of 17.78 per cent. The specialty formulation business excluding out licensing revenue was at Rs 6,074.17 million ($108.86 million) as against Rs 5,046.45 million ($92.46 million) for the corresponding previous quarter, recording a growth of 20.37 per cent.

Net profit for the quarter ended June 30, 2013 was Rs 1286.76 million as compared to Rs 782.75 million for the previous corresponding quarter an increase of 64.38 per cent.

“We have recorded good growth in both our generics and specialty formulations businesses across key geographies,” said Glenn Saldanha, Chairman and Managing Director, Glenmark Pharmaceuticals.

“We continue to do well in markets like India, the US and Russia despite challenges in the operating environment. We have been also making steady progress on the Innovation R&D front with our five NCE & NBE molecules in clinical trials,” he added.

EP News Bureau – Mumbai