Glenmark Pharma net at Rs 102.6 cr

Last Updated: Sat, May 29, 2010 04:30 hrs

Glenmark Pharmaceuticals Ltd (GPL) today posted a net profit of Rs 102.6 crore for the fourth quarter ended March 31, compared to a loss of Rs 120.6 crore a year earlier, on the back of better performance by various business verticals. Consolidated revenue rose 44.4 per cent to Rs 709.1 crore from Rs 491 crore.

"All businesses and regions have performed well and we continue to remain optimistic about growth for the current financial year," Glenn Saldanha, chief executive officer and managing director of GPL, said.

Sales for the formulation business in India jumped over 35 per cent to Rs 218.4 crore from Rs 161.6 crore in the same quarter last year. Revenue from Africa, Asia and CIS region rose three-fold to Rs 136.9 crore. Income from Latin American and Caribbean operations grew by 28.7 per cent to Rs 34.5 crore, compared to Rs 26.8 crore.

Glenmark’s Europe operations posted revenue of Rs 45.9 crore, compared to Rs 38.3 crore a year earlier. GPL’s generics business in the US rose 18.5 per cent to Rs 185.2 crore from Rs 156.3 crore.

Revenue from sale of active pharmaceutical ingredients to regulated and semi-regulated markets globally was Rs 70.2 crore, as against Rs 50.5 crore, an increase of 39 per cent.

For 2009-10, consolidated revenue increased 18.7 per cent to Rs 2,484.8 crore, as against Rs 2,093 crore in the previous year.

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