Glenmark profit rises to Rs 311 crore

CORPORATE SCORECARD

Glenmark Pharmaceuticals has posted a 254 per cent increase in consolidated net profit at Rs 311.16 crore for the financial year ended March 2007, over the Rs 87.98 crore net profit in the 2005-06 period.

Glenmark's consolidated revenues increased to Rs 1,242 crore, recording a growth of 64 per cent during FY 2007, against Rs 756 crore for the previous year.

The company's US business earned revenues of Rs 221 crore, with a total of 13 product launches and a growth of 286 per cent, as against revenues of Rs 57 crore for the 2005-06 period.

During FY 2007, Glenmark's US subsidiary Glenmark Pharmaceuticals (GPI) and its partners filed 16 products in the US market, with a total of 36 products now pending for approval in the US market.

The semi regulated markets (SRM) posted revenues of Rs 178.9 crore for FY07, a growth of 69 per cent over the 2005-06 period.

Revenues from the India formulations segment grew by nine per cent to Rs 429 crore.