Glenmark Q2 net up nearly three fold at Rs 156.75 cr
New Delhi: Glenmark Pharmaceuticals on Tuesday said its consolidated net profit rose by nearly three fold to Rs 156.75 crore for the quarter ended September 30, 2012, mainly on account of robust sales across all segments.
The company had posted a net profit of Rs 56.58 crore for the quarter ended September 30, 2011, Glenmark Pharmaceuticals said in a statement.
Consolidated net sales of the company also rose to Rs 1,255.19 crore for the quarter under consideration from Rs 1,055.44 crore for the corresponding period of previous fiscal.
Commenting on the results, Glenmark Pharmaceuticals Chairman & MD Glenn Saldanha said: "We continue on our growth trajectory with both the Generics and Speciality business registering good growth across geographies".
The growth from markets particularly the US, India and Russia has been exceptional, he added.
Revenue from the generic business was at Rs 578.39 crore for the quarter under consideration. The speciality formulations business, excluding out-licensing revenue, stood at Rs 669.74 crore for the quarter ended September 30, 2012.
Revenues from sale of active pharmaceutical ingredients to regulated and semi regulated markets globally was Rs 103.45 crore for the second quarter of this fiscal.
The company has a pipeline of five NCE and NBE molecules in clinical trials including the inlicensed molecule 'Crofelemer', Glenmark said.
The primary area of focus are inflammation (asthma, COPD, rheumatoid arthritis etc) and pain (neuropathic and inflammatory pain), it added.
Shares of Glenmark Pharmaceuticals Ltd on Tuesday closed at Rs 395.50 per scrip on BSE, up 0.08 percent from its previous close.