Consolidated net profit and EBITDA increased by 47.01 per cent and 30.27 per cent respectively
Glenmark Pharmaceuticals’ consolidated revenue for first quarter ended June 30, 2017 was at Rs 23,630.02 million ($ 367.04 million) as against Rs 19,693.81 million ($ 294.69 million) recording an increase of 19.99 per cent.
The consolidated net profit was at Rs 3,333.81 million for the quarter ended June 30, 2017 as compared to Rs 2,267.81 million for the previous corresponding quarter registering an increase of 47.01 per cent.
Consolidated EBITDA grew by 30.27 per cent at Rs 5,927.36 million as against Rs 4,549.89 million in the quarter. “Despite challenges in India and the US markets, the performance of these businesses have been good. In India, we continue to be one of the fastest growing company in the pharma market. In the US, after a steady stream of product approvals in the first quarter, the base business has rebounded well,” said Glenn Saldanha, Chairman and MD, Glenmark Pharmaceuticals Limited.
He added further, “During the quarter, for GSP 301, we received confirmation that the data from our phase 3 trial is sufficient to support an NDA filing. This is an important milestone as GSP 301 will be our first NDA to be filed in the US.”
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