Glenmark net up 13% to Rs 12.11 crore

BS 200 SCPRECARD

Glenmark Pharmaceuticals has posted a net profit of Rs 12.11 crore for the quarter ended December 31, up 12.68 per cent compared with Rs 10.75 in the the corresponding period of the previous year.

The drug maker registered a revenues growth of Rs 138.48 crore for the third quarter against Rs 102.66 crore in the same quarter previous year, up 34.89 per cent.

The operating profit for the quarter stood at Rs 26.43 crore The company's interest outgo for the quarter stood at Rs 4.44 crore against Rs 2.03 crore in the previous year. Its revenue from domestic formulations segment grew by 3.69 per cent to Rs 76.18 crore.

However, according to the company, this slow domestic growth was compensated by the other business segments. Domestic API and co-marketing grew by 69.16 per cent to Rs 16.92 crore while export revenues grew by 136.47 per cent to Rs. 45.37 crore.

Glenn Saldanha, managing director and CEO, said in a media release: "The company is delivering on its promise to increase the share of export and active pharmaceutical ingredients (API) businesses in overall revenues. In addition, revenue generation activities in the US subsidiary have commenced and our PDE4 inhibitor for Asthma/COPD (GRC 3886) has shown promising results in Phase I clinical trials."

The company obtained registration for 86 products and filed 124 additional registrations in several of its export markets in the quarter.

The company also filed five drug master files (DMFs) taking the count of total DMFs filed till date to nine. It intends to file four additional DMFs in the next quarter.