Consolidated net profit rises by 30.05 per cent to Rs 2481.79 m
Glenmark Pharmaceuticals announced its financial results for the third quarter ended December 31 of the financial year 2020-21. For the third quarter of FY 2020-21, Glenmark’s consolidated sales were at Rs 27,605.07 million as against Rs. 26,574.51 million recording an increase of 3.88 per cent.
For the third quarter of FY 2020-21, Glenmark’s consolidated revenue (incl. other revenue) was at Rs. 27,867.63 million as against Rs 27,355.62 million recording an increase of 1.87 per cent. Consolidated net profit was at Rs 2481.79 million. for the quarter ended December 31, 2020, as compared to Rs 1,908.39 million in the previous corresponding quarter, registering an increase of 30.05 per cent. Consolidated EBITDA was at Rs 5,300.72 million in the quarter ended December 31, 2020, as against Rs 4,400.75 million in the previous corresponding quarter, an increase of 20.45 per cent.
“Our India business continued to grow at a healthy pace in the third quarter, consistently outperforming industry growth. The US business rebounded well and we expect the business to gradually build sales momentum. This quarter, the API business once again performed well and we expect this business to grow in the next few years. We also expect the European and the emerging markets business to gain traction in the coming few quarters,” said Glenn Saldanha, CMD, Glenmark Pharmaceuticals.
