Consolidated net profit rises 6.62 per cent to Rs 1,616.62 million for Q4 FY 2018-19
Glenmark Pharmaceuticals has recently announced its financial results for the fourth quarter and year ended March 31, 2019. According to it, the company’s consolidated revenue was at Rs 25,634.74 million as against Rs 22,798.16 million, recording an increase of 12.44 per cent. Its consolidated net profit was at Rs 1,616.62 million for the quarter ended March 31, 2019 as compared to Rs 1,516.27 million in the previous corresponding quarter, registering an increase of 6.62 per cent.
The consolidated EBITDA grew by 11.41 per cent to Rs 3,641.31 million in the quarter ended March 31, 2019 as against Rs 3,268.35 million in the previous corresponding quarter.
For the year ended March 31, 2019, Glenmark’s consolidated revenue was at Rs 98,654.68 million as against Rs 91,030.70 million, recording an increase of 8.38 per cent over the previous corresponding period. The consolidated net profit was at Rs 9,249.93 million for the year ended March 31, 2019, as against Rs 8,038.70 million in the previous year, an increase of 15.07 per cent.
Consolidated EBITDA for the fiscal year ended March 31, 2019 stood at Rs 15,857.99 million as against Rs 16,153.73 million in the previous corresponding period.
Glenn Saldanha, Chairman and MD, Glenmark Pharmaceuticals, said, “Our growth momentum continued during the financial year despite the challenging generic business environment across markets globally. Our India, Europe and rest-of-the-world regions performed well and we also maintained good traction in the API business.” He added, “During the year, we took a strategic step of reorganising our business into three separate entities operating independently. We believe this measure will help accelerate the growth of the overall organisation and unleash full potential of each of the business verticals.”