Date:01/02/2006 URL: http://www.thehindubusinessline.com/2006/02/01/stories/2006020102151400.htm

Back Glenmark Q3 net rises 43 pc on better sales

Our Bureau

Mumbai , Jan 31

GLENMARK Pharmaceuticals Ltd has posted a 43 per cent growth in net profit for the three months ended December 31, 2005. The growth was fuelled by healthy performances across the domestic sales of finished medicine dosage forms and bulk drugs, besides exports, a company official said.

The company also declared an interim dividend at 35 per cent for the financial year ended 2005-06, the company told the Bombay Stock Exchange.

Glenmark posted a stand-alone net profit of Rs 17.3 crore for the quarter ended December 31, 2005, as compared to Rs 12.11 crore for the corresponding period in the previous year.

The company clocked revenues of Rs 175 crore for the quarter under review, up 26.43 per cent from the revenues in the same period last year, a company communiqué said.

Revenues from the India formulations business grew by 36.88 per cent to Rs 104.28 crore, as compared to Rs 76.18 crore in the third quarter of FY 2005. Exports of both the bulk drug and finished dosage forms posted revenues of Rs 53.88 crore, reflecting a growth of 18.73 per cent as compared to last year.

Glenmark's total revenues including the US, Latin American and its Swiss subsidiaries were Rs 209.67 crore in the quarter, up about 51 per cent from Rs 138.93 crore in the corresponding period of FY 2005, the note said.

Glenmark shares closed at Rs 304.35, up 2.06 per cent on the BSE.