Glenmark Pharmaceuticals Limited (GPL), the research-led global integrated pharmaceutical company announced its results for the third quarter ended December 31, 2013. For this quarter Glenmark’s consolidated revenue was at Rs16012.23 million (USD 259.59 million) as against Rs13812.59 million (USD254.45 million) an increase of 15.92 per cent. Revenue from the generics business was at Rs7372.66 million (USD 119.26 million) as against Rs 5911.09 million (USD 108.99 million), growth of 24.73 per cent. The specialty formulation business excluding out-licensing revenue was at Rs 8639.57 million (USD 140.33 million) as against Rs 7408.47 million (USD 136.44 million) for the corresponding previous quarter, recording a growth of 16.62 per cent. Net profit (after taxes and minority interests) for the third quarter was Rs 2162.36 million as compared to Rs 2129.17 million for the previous corresponding quarter. The net profit for the quarter is not comparable due to out-licensing income of Rs 493.03 million received in the previous corresponding quarter i.e. Q3 FY 2012-13. EBIDTA excluding out-licencing income grew by 34.75 per cent to Rs 3649.74.
“Despite challenges in the operating environment, we have registered good growth in both our speciality and generics businesses across the globe. We are reasonably confident of maintaining our growth trajectory with our emerging markets businesses being a key growth driver going ahead,”said Glenn Saldanha, Chairman and Managing Director, Glenmark. “Our innovation R&D business has also been making steady progress with our four New Chemical Entities (NCE) and three New Biological Entities (NBE) molecules at various stages of clinical development,” he adds.
For the nine month ended December 31, 2013, Glenmark’s consolidated revenue was at Rs 43021.11 million (USD 717.02 million) as against Rs36768.57 million (USD 672.92 million), an increase of 17.01 per cent. Revenue from the generics business was at Rs 20746.85 million (USD 345.78 million), as against Rs17030.06 million (USD 311.68 million), a growth of 21.82 per cent. The speciality formulation business revenue (excluding out-licensing revenue) was Rs 22156.16 million (USD 369.27 million) as against Rs19245.48 (USD 352.22) for the corresponding previous nine month period, recording a growth of 15.12 per cent. Net profit for nine months ended December 31, 2013 was Rs 5021.89 million as compared to Rs 4531.65 million in the previous corresponding nine months period.
EP News Bureau – Mumbai