Consolidated net profit for Q1 FY 15-16 was Rs 1909.38 million
Glenmark Pharmaceuticals announced its results for the first quarter ended June 30, 2015.
For the first quarter ended June 30, 2015, Glenmark’s consolidated revenue excluding out-licensing income was at Rs 16552.48 million ($ 261.53 million) as against Rs 14570.35 million ($ 243.61 million) an increase of 13.6 per cent.
Consolidated net profit for Q1 FY 15-16 was Rs 1909.38 million as compared to Rs 1848.48 million in the previous corresponding quarter; an increase of 3.31 per cent. It should be noted that Glenmark received out-licensing income of Rs 299.05 million in Q1 FY 2014-15.
Consolidated EBITDA was at Rs 3595.79 million in Q1 FY 15-16 as compared to Rs 3423.32 million in the previous corresponding period.
Glenn Saldanha, Chairman and Managing Director, Glenmark Pharmaceuticals said, “We have recorded good growth during the quarter for our India, US LatAm and Europe businesses. While we continue to outperform in the Indian pharma market; our US Business also registered decent growth in the quarter aided by ANDA approvals for six products. Our LatAm business performed exceedingly with Brazil, Mexico and Venezuela recording good sales growth. We have been also making steady progress in our innovation pipeline as we persist with our relatively high investments on R&D to build both our novel as well as generics products pipeline.”