Drug maker Glenmark Pharmaceuticals clocked a net profit of Rs 156 crore for the second quarter ended September 30 compared with Rs 56 crore registered in the corresponding quarter last year.
But the company’s performance in the quarter under review was not comparable with last year’s, Glenmark said, due to a Rs 118-crore out-licensing income that was received, a Rs 131-crore royalty paid to Paul Capital and Rs 85 crore mark-to-market loss recorded in the second quarter of the previous financial year.
Pointing out that its generics and speciality businesses had grown across markets, Glenn Saldanha, Glenmark’s Chairman and Managing Director, said growth from markets, particularly the US, India and Russia had been exceptional.
The company’s consolidated revenue was Rs 1,255 crore for the period under review, up close to 19 per cent when compared with Rs 1,055 crore in the corresponding period last year. Excluding the out-licensing income received in the second quarter last year, Glenmark’s consolidated revenue for the said quarter grew by about 34 per cent, it added.
The company’s revenues from the sale of finished drug forms in India, in the quarter under review were Rs 344 crore, up 35 per cent. Revenues from Africa, Asia and the CIS region was Rs 194 crore, up 31 per cent and revenue from Latin American and Caribbean operations were Rs 93 crore, up about 27 per cent.
Glenmark Generics (US) clocked revenues of Rs 430 crore for the quarter under review, up 43 per cent. Glenmark EU’s revenues from the sale of finished drugs posted revenues of Rs 38 crore, up 109 per cent. Glenmark shares were marginally up on the BSE, at Rs 395 on Tuesday.