Glenmark Q2 net drops 52%

Glenmark Pharmaceuticals today reported a 52.17% decline in net profit at Rs 13.84 crore for the second quarter ended September 30, 2005 as against Rs 28.94 crore in the quarter ended September 30, 2004.

Total income declined 13.66% to Rs 138.36 crore in Q2FY06 from Rs 160.25 crore in Q2FY05.

"We are confident of closing the distance between our present performance and targets, and maintain our guidance on revenue and profit for FY06," Glenn Saldanha, managing director and CEO of Glenmark, said.