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Glenmark's Consolidated Revenue Increases by 33.96% to Rs. 13812.59 Million for Q3 FY 12-13
Date:1/29/2013

MUMBAI, January 30, 2013 /PRNewswire/ --

Net Profit for the Third Quarter was Rs. 2129.17 Mn as Compared to Rs. 448.24 Mn for the Previous Corresponding Quarter

Highlights: Q3-FY13 - Results


- Consolidated Revenue excluding out-licensing income grew by 32.24%
- Specialty formulation business recorded a growth of 34.31%
- Revenue from the Generics business grew by 33%
- US Generics Business grew by 36.83%, while India Formulations business grew by 29.87%

Glenmark Pharmaceuticals Limited (GPL), the research-led global integrated pharmaceutical company announced its results for the third quarter ended December 31, 2012.

For the third quarter ended Dec 31 2012, Glenmark's consolidated revenue was at Rs. 13812.59 Mn (USD 254.45 Mn) as against Rs. 10310.86 Mn (USD 201.25 Mn) an increase of 33.96%. Excluding out-licensing income received in the third quarter, Glenmark's consolidated revenue for the third quarter grew by 32.24%.

Revenue from the generics business was at Rs. 5809.85 Mn (USD 107.13 Mn), as against Rs. 4368.36 Mn (USD 85.10 Mn), a growth of 33.00%. The Specialty formulation business excluding out-licensing revenue was at Rs. 7357.64 Mn (USD 135.50 Mn) as against Rs. 5606.97 Mn (USD 109.42 Mn) for the corresponding previous quarter, recording a growth of 31.22%.

Net Profit for the third quarter ended December 31, 2012 was Rs. 2129.17 Mn as against Rs. 448.24 Mn in the previous corresponding quarter. During the quarter, the company received out-licensing revenue of Rs. 493.03 Mn from Forest Laboratories.

"We continue to maintain our high growth trajectory by recording a strong sales growth of over 30% for the third quarter. The US, India and Russia markets performed exceptionally well and continue to drive growth for the company," said Glenn Saldanha , Chairman & MD, Glenma
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SOURCE Glenmark Pharmaceuticals Ltd
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