Glenmark Pharmaceuticals, a global pharmaceutical company, has posted an increase of 38 per cent in its consolidated net profit at Rs 111.62 crore during the quarter ended September compared with Rs 80.88 crore in the previous corresponding quarter.
The company's consolidated revenues grew to Rs 724.26 crore against Rs 590.32 crore in the same quarter last year, up 23 per cent.
The company's revenues from the generic business was up 27 per cent to Rs 327.65 crore from Rs 257.58 crore while in the speciality formulation space, revenues moved 19 per cent north to Rs 396.6 crore against Rs 332.74 crore last year.
"During the quarter, Glenmark's income saw growth buoyed by our largest businesses - India and the US, where new product launches assisted growth and also helped us increase market share across operating therapeautic cateogories," said Glenn Saldanha, CEO & MD of the company.
The company also witnessed good growth in the Latin America and the Central Eastern Europe region.
Saldanha sounded optimistic about the second half of the current financial year. "For the remaining part of the year, we expect demand conditions to further improve whieh will aid further growth in all operating markets. We will also continue our aggressive launch of new products across all branded generics markets," he added.
During the last quarter, the company had launched seven products in the US.
On the Bombay Stock Exchange, the company's shares traded strong at Rs 329.10, up 4.57 per cent at 1:07 pm.
