Glenmark Pharma has posted its Q3FY13 results where the company’s total income increased 34 per cent Y-o-Y to Rs13.8 billion. Growth in the domestic business and Rest of the World (RoW) formulations sales were in positive mode. The company reported an Earnings before interest, taxes, depreciation and amortization (EBITDA) margin of 22.9 per cent. EBITDA grew by 54.4 per cent Y-o-Y aided by favourable product mix and licensing income. Core EBITDA margin (excluding licensing income) was a robust 20 per cent.
Adjusted Profit After Tax grew slower than EBITDA due to lower other income and higher depreciation. Excluding licensing income, Glenmark’s speciality business posted a robust 31.2 per cent Y-o-Y growth as the company made excellent gains in India and RoW. The India business grew by a 29.9 per cent vs industry growth of 9.1 per cent (as per AIOCD AWACS) during the quarter.
EP News Bureau – Mumbai
