Glenmark’s consolidated revenue 14.85% up

Glenmark Pharmaceuticals today announced its results for the second quarter ended September 30, 2014


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Business Highlights

• India Business grew by 14.48 percent to Rs 4,781.50 Mn
• Latin America Business grew by 139.01 percent to Rs 2,308.80 Mn
• Europe Formulations Business grew by 25.06 percent to Rs 1,305.53
• API Business grew by 57.85 percent to Rs 1,595.44

For the second quarter, Glenmark's consolidated revenue was at Rs 16,807.08 mn ($277.50 mn) as against Rs 14,633.80 mn ($235.68 mn) an increase of 14.85 percent.

The consolidated Net Profit for the second quarter was Rs 1650.78 mn as compared to Rs 1542.97 mn for the previous corresponding quarter, recording an increase of 7 percent. Consolidated EBITDA grew by 6 percent to Rs 3352.22 mn from Rs 3156.81 mn in the quarter.

"Despite the challenging environment, we have performed well across geographies viz India, Europe and LatAm. The environment continues to be tough especially in the US where product approvals have slowed down considerably and the channel consolidation has impacted overall sales," said Mr Glenn Saldanha, CMD, Glenmark Pharmaceuticals.


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