Glenmark consolidated net jumps 3-fold to Rs 156 cr on US sales
Glenmark Pharmaceuticals on Tuesday reported a nearly three-fold jump in consolidated net profit at Rs 155.5 crore for the first quarter ended June 30, 2010 on the back of strong growth in sales.
By PTI |
NEW DELHI: Glenmark Pharmaceuticals on Tuesday reported a nearly three-fold jump in consolidated net profit at Rs 155.5 crore for the first quarter ended June 30, 2010 on the back of strong growth in sales. The company had reported a net profit of Rs 53.4 crore for the same quarter ended June 2009, Glenmark said in a filing to the Bombay Stock Exchange (BSE).
“The first quarter has been very encouraging. The US generics and the API business recorded good sales growth. The out-licensing deal with Sanofi-Aventis for GRC 15300 reaffirmed our commitment to cutting-edge work in the area of discovery,” Glenmark Pharmaceuticals CEO & MD Glenn Saldanha said.
Total income rose to Rs 707.9 crore for the April-June quarter, from Rs 551.2 crore in the same period last year. “On the US generics side, we are encouraged by the number of ANDA approvals received recently. This will aid growth for the subsidiary in this financial year. We expect an improved performance from the Central Eastern Europe region for the remaining part of the year,” Mr Saldanha added.
On a standalone basis, the company posted a net profit of Rs 60.7 crore for the first quarter ended June 30 against Rs 5.2 crore in the year-ago period.
“The first quarter has been very encouraging. The US generics and the API business recorded good sales growth. The out-licensing deal with Sanofi-Aventis for GRC 15300 reaffirmed our commitment to cutting-edge work in the area of discovery,” Glenmark Pharmaceuticals CEO & MD Glenn Saldanha said.
Total income rose to Rs 707.9 crore for the April-June quarter, from Rs 551.2 crore in the same period last year. “On the US generics side, we are encouraged by the number of ANDA approvals received recently. This will aid growth for the subsidiary in this financial year. We expect an improved performance from the Central Eastern Europe region for the remaining part of the year,” Mr Saldanha added.
On a standalone basis, the company posted a net profit of Rs 60.7 crore for the first quarter ended June 30 against Rs 5.2 crore in the year-ago period.
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