Glenmark Pharmaceuticals Ltd (GPL), a Mumbai-based global integrated pharma giant, has posted a gain in consolidated net profit by 38 per cent for the financial year 2010-11 at Rs 457.8 crore, compared to Rs 331 crore for the corresponding period last year.
On the back of a higher business in the US and in India, the company's consolidated revenues increased 18.7 per cent to Rs 2,949 crore from Rs 2,485 crore. Revenue from the generics business grew by 20 per cent at Rs 1,263 crore, as against Rs 1,050 crore.
The speciality formulation business revenue was at Rs 1,685.8 crore as against Rs 1,434.8 crore for the corresponding year, registering a growth of 17 per cent. Sales for the formulation business in India increased to Rs 844.6 crore from Rs 752.8 crore, recording a growth of 12 per cent.
Since the company has adopted a new accounting system, consolidated figures are not comparable with those of the previous financial year, the company statement said.
Glenmark Generics Inc., USA, registered revenue from sale of finished dosage formulations of Rs 8,35 crore for 2010-11 against revenue of Rs 7,23 crore, an increase of 16 per cent. Revenue from the Europe generics business stands at Rs 54 crore against revenue of Rs 29.9 crore, an increase of 82 per cent over the previous year.
Glenmark’s speciality business revenue from its Latin American and Caribbean operations was at Rs 191.8 crore against Rs 136 crore, a growth of 41 per cent.
