Glenmark Pharmaceuticals Ltd. (GPL), on Friday, reported a net profit of Rs.216.23 crore for the third quarter ended December 2013, a marginal gain over Rs.212.91 crore recorded in the same period of the previous year.
However, in a statement, the company said the net profit was not comparable due to out-licensing income of Rs.49.3 crore received in the previous corresponding quarter.
The company’s consolidated revenue grew 16 per cent to Rs.1,601.22 crore. The operating profit, excluding out-licensing income, grew 35 per cent to Rs.365 crore.
During the period, revenue from GPL’s generics business was up 24.7 per cent at Rs.737.26 crore, and the specialty formulation business, excluding out-licensing revenue, was up 16.6 per cent at Rs.863.95 crore.
“Despite challenges in the operating environment, we have registered good growth in both our specialty and generics businesses across the globe,’’ Glenna Saldanha, Chairman & Managing Director, said in a statement, adding “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 (new chemical entities) and 3 NBE (new biological entities) molecules at various stages of clinical development.”