Glenmark Pharmaceuticals Ltd. Announces Unaudited Standalone and Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 31, 2013
January 24, 2014 at 06:32 pm IST
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Glenmark Pharmaceuticals Ltd. announced unaudited standalone and consolidated earnings results for the third quarter ended December 31, 2013. For the quarter on standalone basis, the company reported net sales of INR 5,303.18 million against INR 5,348.91 million for the quarter ended December 31, 2012. Net profit was INR 584.09 million against INR 1,090.36 million a year ago. Profit from operations before other income, finance costs and exceptional items was INR 682.21 million against INR 103.354 million a year ago. Profit before tax was INR 710.96 million against INR 105.437 million a year ago. Earnings per diluted share were INR 2.15 against INR 4.02 a year ago.
For the nine months on standalone basis, the company reported total income from operations of INR 15,267.39 million against INR 14,640.91 million for the quarter ended December 31, 2012. Net profit was INR 2,821.56 million against INR 3,011.88 million a year ago. Profit from operations before other income, finance costs and exceptional items was INR 2,982.67 million against INR 2,556.89 million a year ago. Profit before tax was INR 3,285.71 million against INR 3,079.92 million a year ago. Earnings per diluted share were INR 10.40 against INR 11.12 a year ago.
For the quarter on consolidated basis, the company reported total income from operations of INR 16,017.2 million against INR 13,816.13 million for the quarter ended December 31, 2012. Profit from operations before other income, finance costs and exceptional items was INR 3038.73 million against INR 2,845.23 million a year ago. Profit before tax was INR 2,616.82 million against INR 2,496.82 million a year ago. Net profit was INR 2,143.31 million against INR 2,130.48 million a year ago. Earnings per diluted share were INR 7.97 against INR 7.86 a year ago. EBIDTA excluding out-licencing income grew by 34.75% to INR 3,649.74 million. Net profit (after taxes and minority interests) for the third quarter was INR 2,162.36 million as compared to INR 2129.17 million for the previous corresponding quarter.
For the nine months on consolidated basis, the company reported total income from operations of INR 43,033.75 million against INR 36,778.61 million for the quarter ended December 31, 2012. Profit from operations before other income, finance costs and exceptional items was INR 7,719.38 million against INR 6,614.10 million a year ago. Profit before tax was INR 6,515.90 million against INR 5,593.15 million a year ago. Net profit was INR 5,021.89 million against INR 4,531.65 million a year ago. Earnings per diluted share were INR 18.41 against INR 16.53 a year ago.
Glenmark Pharmaceuticals Limited is an India-based global pharmaceutical company. The Company is focused on building a global formulation business with branded, generics and over the counter (OTC) segments in the therapy areas of dermatology, respiratory and oncology. The Company also has a regional/country-specific presence in other therapeutic areas like diabetes, cardiovascular and oral contraceptives. Its product portfolio includes topical products, liquids, respiratory MDI/DPI, complex injectables and biologics, and oral solids. The Company has a bioequivalent version of Tiotropium Bromide dry powder inhaler (DPI) under the brand, Tiogiva in the United Kingdom and Tavulus in Spain, for the treatment of chronic obstructive pulmonary disease. Ryaltris, the Company's first branded specialty product globally, is a fixed dose combination nasal spray that combines an antihistamine (Olopatadine) with a steroid (Mometasone Furoate) for treatment of allergic rhinitis.
Glenmark Pharmaceuticals Ltd. Announces Unaudited Standalone and Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 31, 2013