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(Reuters) -India's Gland Pharma reported a 12% rise in second-quarter profit on Monday, as recovery at its European unit Cenexi bolstered margins.
The consolidated net profit rose to 1.84 billion rupees (nearly $21 million) for the quarter ended September 30 from 1.64 billion rupees a year earlier.
Revenue from operations rose 5.8% to 14.87 billion rupees.
U.S. sales, which make up more than half of the total, climbed 10%, while European business posted a 16% rise.
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Indian generic drug makers, including Gland, derive a significant share of revenue from the United States, and have faced pricing pressure in the market following the imposition of hefty U.S. tariffs on goods from India.
Rivals Cipla and Dr Reddy's reported subdued sales in the region during the quarter.
However, a revival at Gland Pharma's Cenexi unit in France drove margins higher, the company said. The drugmaker had been grappling with production setbacks at Cenexi's Paris and Belgium units throughout last year.
The company's margins on earnings before interest, tax, depreciation and amortization, adjusted for employee benefits expenses, improved to 23% in the September quarter from 21% a year earlier.
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