Glenmark Q3 net profit at Rs 216 crore

NEW DELHI: Drug firm Glenmark Pharmaceuticals today said it posted a consolidated net profit of Rs 216.23 crore for the third quarter ended December 31, 2013, on account of robust sales across various business verticals.

The company had posted a net profit of Rs 212.91 crore during the same period of previous fiscal.

Consolidated net sales of the company stood at Rs 1,601.22 crore for the third quarter. It was at Rs 1,381.25 crore during the same period of previous fiscal, Glenmark Pharmaceuticals Ltd said in a statement.

The results for the quarter are not comparable due to out-licensing income of Rs49.30 crore received in the previous corresponding quarter, it added.

"Despite challenges in the operating environment, we have registered good growth in both our speciality and generics businesses across the globe," Glenmark Chairman and MD Glenn Saldanha said.

The company is reasonably confident of maintaining its growth trajectory with emerging markets businesses being a key growth driver going ahead, he added.

The company said revenues generics business stood at Rs 737.26 crore during the third quarter. It was Rs 591.10 crore during the same period of previous fiscal.

During the period under review, the company's speciality formulation business posted revenues of Rs 863.95 crore. It stood at Rs 740.84 crore in the same period of previous financial year.

Shares of Glenmark Pharma today closed at Rs 509.55 apiece on the BSE, up 0.24 per cent from previous close.