Glenmark Q2 net dips 52%

BS 200 SCORECARD

Glemark Pharmaceuticals has registered fall in net profit at Rs 13.84 crore during the quarter ended September 30, 2005, as against Rs 28.94 crore of the corresponding quarter last year.Total revenue dipped by 13.66 per cent to Rs 138.36 crore.

However, total revenue of the company's Brazilian and Swiss subsidiaries rose to Rs 16.45 crore from Rs 4.85 crore. Key reason for the decline in its India revenue was the damage sustained due to depletion of the company's inventory following the torrential rain in Mumbai in July.

Glen Saldanah, MD, said the company is confident of closing the distance between its present performance and targets and maintaining its guidance on revenue and profit for the financial year 2005-06.