MUMBAI, today announced that
- Specialty Formulations Business Excluding Out-licensing Income Grew by 22.85 % to Rs. 5046.45 mn for the Quarter
- India Formulations Business Recorded a Growth 24.14 % for the Quarter
- Generics Business Registered Sales Growth of 57.67% to Rs. 5300 mn in Q1 FY 12-13
- US Generics Business Grew by 56.22 % for the Quarter
Glenmark Pharmaceuticals Limited (GPL), the research-led global integrated pharmaceutical company announced its first quarter results for the period ending June 30, 2012.
For the first quarter ended June 30, 2012, Glenmark's consolidated revenue was at Rs. 10404.07 Mn [USD 190.62 Mn] as against Rs. 8682.54 Mn [USD 191.75 Mn], an increase of 19.83 % in Rs. term. Revenue from the generics business was at Rs. 5300.00 Mn (USD 97.11 Mn), as against Rs. 3361.55 Mn (USD 74.24 Mn), a growth of 57.67 % in Rs. term.
The Speciality formulation business revenue (ex-licensing revenue) was at Rs. 5046.45 Mn (USD 92.46 Mn) as against Rs. 4107.65 Mn (USD 115.28 Mn) for the corresponding previous quarter, recording a growth of 22.85 % in Rs. term
Net Profit for the quarter ended June 30, 2012 was Rs. 782.75 Mn as compared to Rs. 2085.85 Mn for the previous corresponding quarter. The Net profit for the quarter is not comparable due to out-licensing income of Rs. 1112.34 million received in the previous corresponding quarter i.e Q1 FY 2011-12 and also due to MTM losses to the extent of Rs 550 million recorded in this quarter Q1 FY 2013.
"Both our generics and specialty business registered good growth," said Glenn Saldanha, Chairman & MD, Glenmark Pharmaceuticals Limited. "The US business did exceptionally well recording a growth in excess of 55% on the back of product launches in niche competition categories; while the India business performed well and gained market share in focus segments. We are witnessing good growth in our businesses across geographies and are confident of maintaining this trajectory in the coming quarters."
PR Newswire