Glenmark Pharmaceuticals today reported a consolidated net profit of Rs 10.61 crore for the fourth quarter ended March 31, 2015.
The company had posted a net profit of Rs 43.06 crore in the same quarter of the previous fiscal (2013-14).
"The net profit is not comparable due to exceptional item of Rs 187.08 crore in the fourth quarter on account of the settlement claim including legal expenses arrived with the State of Texas by Glenmark Generics Inc," Glenmark Pharmaceuticals Ltd said in a statement.
The company's consolidated net sales rose to Rs 1,753.79 crore for the fourth quarter, up 4.28 per cent, as against Rs 1,681.74 crore in the same period of previous fiscal, Glenmark Pharma said in a BSE filing.
For the year ended March 2015, the company posted consolidated net profit of Rs 475.31 crore, while it was Rs 542.27 crore in 2013-14.
Consolidated net sales of the company for the year rose to Rs 6,595.25 crore, against Rs 5,983.85 crore in the 2013-14 fiscal.
"We continue to record good growth in our India, LatAm (Latin America) and Europe businesses. Currency devaluation and subdued business environment persisted to impact our Rest of the World, especially Russian operations," Glenmark Pharmaceuticals Chairman and MD Glenn Saldanha said.
During the quarter, Glenmark's India business grew by 15.03 per cent to Rs 440.57 crore while its US business grew by 7.09 per cent to Rs 536.34 crore.
Glenmark's Europe business in the quarter under review grew by 25.93 per cent to Rs 243.30 crore and its Latin America business grew by whopping 70.51 per cent to Rs 181.03 crore.
The company's board, which met today, recommended a final dividend of 200 per cent or Rs 2 per equity share of the face value of Re 1 each, for 2014-15.
Glenmark scrips today closed 2.32 per cent up at Rs 877.15 apiece on the BSE.
