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Glenmark’s announces 23.96% net profit at Rs 2267.80 million for Q1 FY 2016-17

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Consolidated revenue was at Rs 19,430.52 million, recording an increase of 17.92 per cent

Glenmark Pharmaceuticals, the research-led global integrated pharma company announced its results for the first quarter ended June 30, 2016.

For the first quarter ended June 30, 2016, Glenmark’s consolidated revenue was at Rs 19,430.52 million ($290.77 million) as against Rs 16,477.43 million ($260.35 million) recording an increase of 17.92 per cent. The consolidated Net Profit was at Rs 2,267.80 million for the quarter ended June 30, 2016 as compared to Rs 1,829.45 million for the previous corresponding quarter registering an increase of 23.96 per cent. Consolidated EBITDA grew by 24.75 per cent at Rs 4,549.89 million as against Rs 3,647.09 million in the quarter.

“In the first quarter of this financial year, nearly all our businesses have rebounded strongly and we have seen good growth across all operating regions except Latam. The US business continues to perform well and the recent approvals for the business will ensure the growth momentum will continue. The Europe business performed well due to strong growth witnessed by the UK subsidiary. The ROW region also rebounded strongly due to a solid performance by the Russian business,” said Glenn Saldanha, Chairman & MD, Glenmark Pharmaceuticals

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