Glenmark Pharmaceuticals today reported a consolidated net profit of Rs 102.61 crore for the fourth quarter ended March 31 on account of robust performance by all segments of its business across all regions. The company had posted a net loss of Rs 120.69 crore in the corresponding period of the 2008-09 fiscal,Glenmark Pharmaceuticals said in a statement. Total income of the company stood at Rs 712.50 crore in the fourth quarter,compared to Rs 515.76 crore in the same period of the corresponding fiscal,it added. The company also announced a dividend of 40 per cent,or Rs 0.40,per share for the financial year ended March,2010. "The robust growth registered by the business in the fourth quarter augers well for this financial year too. All businesses and regions have performed well and we continue to remain optimistic about growth for the current financial year," Glenmark Pharmaceuticals Chief Executive Officer and Managing Director Glenn Saldanha said. For the financial year ended March,2010,the company posted a consolidated net profit of Rs 331.03 crore,a rise of 71 per cent compared to Rs 193.47 crore in the previous fiscal. Total income of the company stood at Rs 2,512.07 crore for FY'10,compared to Rs 2,121.53 crore in FY'09. The company received a total of 16 Abbreviated New Drug Application approvals from the US Food and Drug Administration in 2009-10,of which six were tentative approvals. Glenmark's current marketing portfolio consists of 53 generic products authorised for distribution in the US market. The company's domestic formulation business sales grew by 35 per cent in the fourth quarter to Rs 218.40 crore,compared to Rs 161.68 crore in the same period of the previous fiscal. Revenues from Africa,Asia and the CIS region stood at Rs 136.97 crore for the quarter ended March,2010,compared to Rs 42.28 crore in the same period of the previous fiscal. The company's revenue from Latin American and Caribbean operations stood at Rs 34.58 crore for the fourth quarter,as against Rs 26.87 crore in the same period a year ago. The pharma major's Europe sales stood at Rs 45.90 crore for the quarter ended March,2010,compared to Rs 38.35 crore in the same period of the previous fiscal. Glenmark Generics Inc,USA,registered a revenue of Rs 185.23 crore for the Q4,FY'10,compared to Rs 156.36 crore in the same period of the previous fiscal. Revenue from the sale of active pharmaceutical ingredients globally stood at Rs 70.25 crore in Q4,as against Rs 50.51 crore in the same period last year. Shares of Glenmark Pharmaceuticals were trading at Rs 277 on the BSE,up 2.97 per cent from the previous close.
