Glenmark Pharmaceuticals today announced its third quarter results for the period ending December 31, 2010. For the third quarter of FY11, Glenmark’s consolidated revenue stood at Rs 750.8 crore as against Rs 641.6 crore, an increase of 17 per cent.
Revenue from the generics business was at Rs 298.7 crore, as against Rs 280.4 crore, a growth of 7 per cent. The Speciality formulation business revenue was at Rs 452 crore as against Rs 361.2 crore for the corresponding quarter of the previous year, registering a growth of 25 per cent.
The consolidated net profit for the third quarter was Rs 109.5 crore as compared to Rs 94 crore for the previous corresponding quarter, an increase of 16.5 per cent. During the last corresponding quarter (Q3 FY10) Glenmark received licensing income of Rs 23.2 crore. Adjusting for this number, net profit would be higher than stated, said a company release.
Shares of Glenmark Pharma lost marginal ground and were trading at Rs 306.9 during the afternoon session.