Drugmaker Glenmark fourth quarter net profit up 6% at Rs 233.87 crore

The rise came on account of higher sales.

Drug firm Glenmark Pharmaceuticals has reported a 6.15 per cent rise in its consolidated net profit to Rs 233.87 crore for the quarter ended March 2021 on account of higher sales.

The company had posted a net profit of Rs 220.30 crore in the corresponding period of the previous fiscal, Glenmark said in a late regulatory filing on Friday.

Its consolidated revenue from operations stood at Rs 2,859.9 crore for the quarter under consideration. It was Rs 2,767.5 crore for the same period a year ago, it added.

For the fiscal ended March this year, the company posted a net profit of Rs 970.1 crore as against Rs 776 crore in the previous fiscal, Glenmark said.

The company's revenue from operations stood at Rs 10,943.9 crore for the fiscal ended March 2021. It was Rs 10,641 crore in 2019-20, it added.

"We delivered consistent performance during the year despite operational challenges due to the COVID-19 pandemic. We led from the front in India's fight against the pandemic at its very onset, with our leading brand FabiFlu, Glenmark Pharmaceuticals Chairman and MD Glenn Saldanha said.

The company has in place strategic levers to grow its businesses sustainably, with a focus on strengthening its balance sheet, he added.

The company's board has recommended a dividend of Rs 2.50 per share for the financial year 2020-21, Glenmark said.