scorecardresearchGlenmark Pharma Q3 PAT rises 21.3% to ₹290.8 crore

Glenmark Pharma Q3 PAT rises 21.3% to 290.8 crore

Updated: 11 Feb 2023, 10:45 AM IST
TL;DR.

The company had posted a consolidated consolidated profit after tax of 239.8 crore in the corresponding quarter last fiscal, Glenmark Pharma said in a statement.

FILE PHOTO: An employee counts Indian rupee currency notes inside a private money exchange office in New Delhi July 5, 2013.  REUTERS/Adnan Abidi

FILE PHOTO: An employee counts Indian rupee currency notes inside a private money exchange office in New Delhi July 5, 2013. REUTERS/Adnan Abidi

(PTI) Glenmark Pharmaceuticals Ltd on Friday reported a 21.3 per cent rise in consolidated profit after tax at 290.8 crore for the third quarter ended December 31, 2022.

The company had posted a consolidated consolidated profit after tax of 239.8 crore in the corresponding quarter last fiscal, Glenmark Pharma said in a statement.

Consolidated revenue was at 3,463.9 crore, as against 3,173.4 crore, up 9.2 per cent, it added.

"We had yet another quarter with a strong performance led by robust growth across all our markets despite the challenging macroeconomic conditions," Glenmark Pharmaceuticals Chairman & Managing Director Glenn Saldanha said.

The company's India business continued to record a healthy increase in secondary sales, while the US business recovered well as the year progressed and the rest of world and EU businesses also reflected formidable growth during the quarter, he added.

Sales from the India formulation business in the third quarter were at 1,074.5 crore as against 1,006.9 crore in the previous corresponding quarter, recording growth of 6.7 per cent.

North America registered revenues of 837.3 crore in Q3, up 10.6 per cent from 756.7 crore in the third quarter last fiscal.

Glenmark said its European operations revenues for the third quarter were at 493.2 crore as compared to 380.7 crore in the year ago period, a growth of 29.5 per cent.

First Published: 11 Feb 2023, 10:44 AM IST