Financial Daily from THE HINDU group of publications
Friday, Jan 28, 2005
Financial Daily from THE HINDU group of publications Friday, Jan 28, 2005 |
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Corporate Results
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Pharmaceuticals Glenmark Pharma Q3 net rises Our Bureau
MUMBAI: Glenmark Pharmaceuticals has posted a 12.68 per cent growth in net profit at Rs 12.11 crore for the three month period ending December 31, 2004. The Mumbai-based drug company has registered revenues of Rs 138.48 crore, up 34.89 per cent, in the third quarter of the period under review. Mr Glenn Saldanha, Managing Director and Chief Executive Officer, said: "Glenmark is delivering on its promise to increase the share of export and active pharmaceutical ingredient (API) businesses in overall revenues." Revenues from finished medicine forms sold in the Indian market grew by 3.69 per cent, at Rs 76.18 crore. However, this slow domestic growth was compensated by other business segments, the note added. Domestic API and co-marketing grew by 69.16 per cent to Rs 16.92 crore and export revenues grew by 136.47 per cent to Rs 45.37 crore, the note said. Klinger Laboratories, a subsidiary of Glenmark, posted revenues of Rs 4.7 crore in the third quarter with a profit of Rs 45 lakh.
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