Glenmark Q3 profit jumps nearly five-fold to Rs 213 cr

Written by fe Bureau | Mumbai | Updated: Jan 30 2013, 09:21am hrs
Glenmark Pharmaceuticals said net profit for the third quarter was R212.9 crore against R44.82 crore in the previous corresponding quarter. During the quarter, the company received out-licensing revenue of R49.30 crore from Forest Laboratories.

Consolidated revenue was at R1,381.25 crore against R1,031.08 crore in the corresponding period last year, an increase of 33.96%. Excluding out-licensing income received in the third quarter, Glenmarks consolidated revenue for the third quarter grew by 32.24%. Revenue from the generics business was at R580.98 crore, against R436.83 crore, a growth of 33%.

The specialty formulation business, excluding out-licensing revenue, was at R735.76 crore against R560.69 crore for the corresponding previous quarter, a growth of 31.22%. Share of the company were trading flat on the BSE on Tuesday and closed at R504.05.