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MUMBAI: Glenmark Pharmaceuticals has reported a profit after tax of Rs 12.64 crore for the fourth quarter of 2004-05, marginally lower from the year-ago profits of Rs 12.97 crore.

Sales for the quarter stood at Rs 139.11 crore (Rs 114.33 crore). Revenues and profits in the last quarter were impacted by the impending introduction of VAT because of the reduced inventories held by trade partners.

The company has recommended a dividend of 35 per cent.

For the full year, the net profit was Rs 63.48 crore (Rs 42 crore). Sales stood at Rs 536 crore (Rs 380 crore).

Revenues from the domestic formulations segment grew by 4.69 per cent to Rs 302.77 crore.

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