Glenmark Pharmaceuticals announced its results for the first quarter ended June 30, 2014. For the first quarter, Glenmark’s consolidated revenue was at Rs 14,869.40 million as against Rs 12,382.43 million in the corresponding quarter recording a growth of 20.08 per cent. Consolidated EBITDA grew by 38.16 per cent to Rs 3423.32 million from Rs 2477.82 million in the quarter. The consolidated net profit was at Rs 1848.46 million for the quarter ended June 30, 2014 as compared to Rs 1286.76 million for the previous corresponding quarter registering an increase of 43.65 per cent.
“We have delivered strong results backed by good performances by our India, Rest of the World (RoW), Europe and LATAM businesses. While we outperformed in the Indian pharma market with a growth of over 20 per cent. Our RoW business led by Russia and LATAM operations bounced back strongly in this quarter with growth rates of over 20 per cent and 30 per cent respectively,” said Glenn Saldanha, Chairman and Managing Director, Glenmark Pharmaceuticals.
Sales for the formulation business in India for the first quarter ended June 30, 2014, was at Rs 3,971.59 million as against Rs 3,285.83 million in the previous corresponding quarter, recording a growth of 20.87 per cent.
EP News Bureau-Mumbai
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