Mumbai, Aug 12 (IANS) Glenmark Pharmaceuticals on Friday reported a 23.96 per cent rise in its consolidated net profit to Rs 226.78 crore in the quarter ended June 30, 2016 as compared to Rs 182.94 crore in the corresponding quarter of last year.
Its EBITDA grew by 24.75 percent at Rs 454.98 crore as against Rs 364.70 crore in the quarter. The company’s consolidated revenue in the quarter under review was Rs 1,943.05 crore — up nearly 18 percent from Rs 1,647.74 in the year-ago period.
“In the first quarter, nearly all our businesses have rebounded strongly and we have seen good growth across all operating regions except Latam. The US business continues to perform well and the recent approvals for the business will ensure the growth momentum will continue,” said company’s Chairman and MD Glenn Saldanha.
“The Europe business performed well due to strong growth witnessed by the UK subsidiary. The ROW (Rest of World) region also rebounded strongly due to a solid performance by the Russian business,” Saldanha said.
The pharmaceuticals major said its India business grew by 10.39 per cent to Rs 5,13.76 crore while its US business registered a growth of 24.44 per cent to Rs 6,98.18 crore. Rest of World business rose by 23.35 per cent to Rs 194.90 crore and Europe formulations business grew by 36.50 per cent to Rs 149.95 crore.
India business strengthened itself in the therapeutic segments with significant growth in market share.
“The cardiac segment market share increased from 3.75 per cent to 4.01 per cent; the respiratory segment market share rose from 3.83 per cent to 4.08 per cent; the anti-diabetic segment market share changed from 2.11 per cent to 2.08 per cent; and the derma segment market share rose from 8.05 per cent to 8.80 per cent,” the company said in a statement.