Companies

Glenmark Q4 net profit up 6% at ₹233.87 cr

PTI New Delhi | Updated on May 29, 2021

The drug maker’s brand FabiFlu has been at the forefront of the fight against Covid-19

Drug firm Glenmark Pharmaceuticals has reported a 6.15 per cent rise in its consolidated net profit to ₹233.87 crore for the quarter ended March 2021 on account of higher sales.

The company had posted a net profit of ₹220.30 crore in the corresponding period of the previous fiscal, Glenmark said in a late regulatory filing on Friday.

Also read: Glenmark arm files IPO papers with SEBI

Its consolidated revenue from operations stood at ₹2,859.9 crore for the quarter under consideration. It was ₹2,767.5 crore for the same period a year ago, it added.

For the fiscal ended March this year, the company posted a net profit of ₹970.1 crore against ₹776 crore in the previous fiscal, Glenmark said.

The company’s revenue from operations stood at ₹10,943.9 crore for the fiscal ended March 2021. It was ₹10,641 crore in 2019-20, it added.

“We delivered consistent performance during the year despite operational challenges due to the Covid-19 pandemic. We led from the front in India’s fight against the pandemic at its very onset, with our leading brand FabiFlu,” Glenmark Pharmaceuticals Chairman and MD Glenn Saldanha said.

The company has in place strategic levers to grow its businesses sustainably, with a focus on strengthening its balance sheet, he added.

The company’s board has recommended a dividend of Glenn Saldanha 2.50 per share for the financial year 2020-21, Glenmark said.

Published on May 29, 2021

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