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Glenmark Q1 net at Rs 232.99 crore

Press Trust of India  |  New Delhi 

Pharma Pharmaceuticals today reported consolidated net profit of Rs 232.99 crore in the first quarter ended June 30, 2018.

The company had posted consolidated net profit of Rs 333.38 crore in the same quarter last fiscal, Pharmaceuticals said in a BSE filing.

Total revenue from operations during the period under review was at Rs 2,165.62 crore. It was at Rs 2,363 crore in the same quarter last fiscal.

The results are not comparable to the corresponding quarter of the previous year, as through its partner had launched Ezetimibe, a generic version of ZETIA in the US in December 2016 and was entitled to an exclusivity on the product, the company said.

business grew by 7.61 per cent to Rs 663.29 crore, while in the US it declined by 32.66 per cent to Rs 703.74 crore, it added.

business grew by 35.61 per cent to Rs 219.78 crore. Similarly, also saw an increase of 15.50 per cent to Rs 97.6 crore, it added.

Commenting on the first quarter performance, said it was impacted by persisting pricing pressure and a high base of last year in the US market.

"However, other geographies performed well, particularly Europe, driven by new product launches, he added.

The company said it has a pipeline of seven new molecular entities (NMEs), which includes two new (NCEs) and four new biological entities (NBEs) and a biosimilar candidate, in various stages of clinical development focused in the therapeutic areas of oncology, respiratory and dermatology.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, August 10 2018. 21:05 IST