Glenmark's consolidated revenue up 16.56% in Q2 FY 13-14

Glenmark Pharmaceuticals has posted a consolidated revenue of Rs 1463 crore for the second quarter ended September 30, 2013, an increase of 16.56% compared with Rs 1255.19 crore in Q2 2012-13. Revenue from the generics business was at Rs 710.655 crore in Q2FY14 as against Rs 580.078 crore in Q2FY13, growth of 22.51%. The specialty formulation business excluding out-licensing revenue was at Rs 740.541 crore as against Rs 675.113 crore for the corresponding previous quarter, recording a growth of 9.69%. But, Glenmark’s net profit (after taxes and minority interests) for the second quarter was Rs 154.297 crore down 1.5% compared to Rs 156.752 crore for the previous corresponding quarter.
 
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Glenn Saldanha, Chairman and MD, Glenmark, commented, “Despite challenges in the operating environment, we have managed to register decent sales growth of 17% on the back of good performances by our US and India businesses. We have been also making steady progress on the Innovation R&D front with our 4 NCE & NBE molecules in clinical trials. Although the operating environment continues to remain challenging in emerging markets, we are reasonably confident of continuing on the same growth trajectory.”