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Glenmark Pharma records 36.28% increase in Q4 profit at Rs 220 crore

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Mumbai-based drugmaker Glenmark Pharma on Friday said, “It has reported a 36.28 percent increase in its consolidated net profit to Rs 220.3 crore in Q4.”

In a filing at the stock exchange, Glenmark said, “The company has posted a 36.28% increase in its consolidated net profit to Rs 220.3 crore for the fourth quarter ended March 2020, compared to Rs 161.66 crore for the same quarter last year.”

“The consolidated revenue stood at 7.6 percent to Rs 2,767.48 crore as against Rs 2,563.47 crore a year ago,” the filing said.

Adding to the filing, the company further said, “The consolidated net profit for the financial year 2019-20 stood at Rs 775.97 crore as compared to Rs 924.99 crore in 2018.19.”

“Glenmark recorded Rs 10,640.96 crore in its consolidated revenue for 2019-20, as against Rs 98,65.46 crore records over the previous corresponding period,” the filing added.

Speaking on the update, Glenn Saldanha, Chairman and Managing Director of Glenmark Pharmaceuticals Ltd said, “Our growth momentum sustained in the Fourth Quarter despite the COVID-19 pandemic and challenging generic business environment across markets globally. Our India, Europe, and Latin America regions performed well during the Quarter.”

“Our sustained performance has been due to the continuous efforts of all our employees around the world. Our manufacturing facilities have operated continuously and facilitated the uninterrupted supply of medicines to operating markets,” Saldanha said.

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