Glenmark Pharmaceuticals, a Rs.5,000 crore pharma major, has posted small growth of 1.6 per cent in consolidated net profit during the third quarter ended December 2013 to Rs.216 crore from Rs.213 crore in the corresponding period of last year. The net profit figures are not strictly comparable as the company including out-licencing income of Rs.49.30 crore in the previous corresponding quarter. EBDITA excluding out-licencing income grew by 34.8 per cent to Rs.365 crore.
Its consolidated revenue improved by 15.9 per cent to Rs.1,601 crore from Rs.1,381 crore. Glenmark's revenue from the generic business improved by 24.7 per cent to Rs.737 crore from Rs.591 crore in the similar period of last year. The specialty formulations business excluding out-licensing revenue moved up 16.6 per cent to Rs.864 crore from Rs.741 crore.
Revenue from Africa, Asia and CIS region improved by 14.9 per cent to Rs.301 crore from Rs.262 crore and revenue from Latin America and Caribbean increased by 12.3 per cent to Rs.114 crore from Rs.101 crore. Similarly its formulation revenue from European region went up smartly by 72 per cent to Rs.68 crore from Rs.40 crore in the same period of last year. Its revenue from API jumped up by 28.5 per cent to Rs.148 crore from Rs.115 crore.
Glen Saldanha, chairman and managing director, said, “Despite challenges in the operating environment, we have registered good growth in both our speciality and generics business across the globe. We are reasonably confident of maintaining our growth trajectory with our emerging markets businesses being a key growth driver going ahead. Our innovation R&D business has also been making steady progress with our 4 NCE and 3 NBE molecules at various stages of clinical development.”
For the nine months ended December 2013, Glenmark's consolidated revenue went up by 17 per cent to Rs.4,302 crore from Rs.3,677 crore in the similar period of last year. The sales of Generics improved by 21.8 per cent to Rs.2,075 crore from Rs.1,703 crore and that from speciality formulation (excluding out-licensing revenue) increased by 15.1 per cent to Rs.2,216 crore from Rs.1,925 crore. Its net profit increased by 10.8 per cent to Rs.502 crore from Rs.453 crore.