Glenmark records a 29.89 per cent growth in Q4 FY 15-16

India Business grew at 22.52 per cent to Rs 5,397.72 million for the quarter and to Rs 21,092.72 million for the year

Glenmark Pharmaceuticals, the research-led global integrated pharmaceutical company announced its results for the fourth quarter and year ended March, 31, 2016. For the fourth quarter ended March 31, 2016, Glenmark’s consolidated revenue was at Rs 23,066.76 million as against Rs. 17,758.13 million recording a growth of 29.89 per cent.

Consolidated net profit for Q4 FY 15-16 was Rs 1430.46 million compared to Rs 106.13 million in the previous corresponding quarter. Consolidated EBITDA was at Rs 3016.58 million in Q4 FY 15-16 as compared to Rs 2814.08 million in the previous corresponding period an increase of 7.2 per cent.

During a board meeting, the Board of Directors recommended a final dividend of 200 per cent i.e. Rs 2 per equity share of the face value of Re 1 each year for FY 2016.

We have rebounded strongly in the fourth quarter with growth across all markets. The India and US business continue to grow in excess of 20 per cent. The rest of the world and API business has also recorded strong growth after a relatively weak performance in the first three quarters,” said Glenn Saldanha, Chairman & MD, Glenmark Pharmaceuticals.

He further added, “Glenmark received 24 approvals from the US FDA in this financial year which has been a record for the company. We remain optimistic about the next financial year as businesses across markets have rebounded and we are gearing up for the launch of Ezetimibe (generic Zetia®) where we have a 180 day exclusivity in the US market which will further add to our growth.”

For the year ended March 31, 2016, Glenmark’s consolidated revenue was at Rs 76,495.83 million as against Rs. 66,447.68 million recording an increase of 15.12 per cent.

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