Glenmark Pharmaceuticals has reported a five-fold jump in its consolidated net profit at Rs 212.91 crore for the quarter ended December 31, 2012 against Rs 45 crore, on account of growth across all business verticals.
Consolidated net sales of the company also rose to Rs 1,381 crore for the quarter against Rs 1031 crore for the same period last fiscal.
Specialty formulation business recorded a growth of 34% at Rs 735 crore. Revenue from the generics business grew by 33% at Rs 581 crore. US generics business grew by 37%, while India formulations business grew by 30%.
Glenn Saldanha, Chairman & MD, Glenmark Pharmaceuticals, “We continue to maintain our high growth trajectory by recording a strong sales growth of over 30% for the third quarter. The US, India and Russia markets performed exceptionally well and continue to drive growth for the company.”
Net profit for nine months ended December 31, 2012 stood at Rs 448 crore as compared to Rs 310 crore.
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