All Rights Reserved Finance News 2020.
Glenmark Q1 outcomes: Net profit jumps over two-fold to Rs 254 cr
NEW DELHI: Glenmark Prescribed drugs on Friday posted an over two-fold enhance in consolidated internet profit at Rs 254.04 crore for the quarter ended June.
The corporate had reported a internet profit of Rs 109.28 crore for the April-June interval of 2019-20.
Consolidated income stood at Rs 2,344.78 crore for the primary quarter, as in contrast to Rs 2,322.87 crore within the year-ago interval, Glenmark Prescribed drugs stated in a regulatory submitting.
“It has been a difficult quarter throughout all markets due to the continuing pandemic. Regardless of theÂ troublesome working atmosphere, we managed to report gross sales development for the organisation.
“WeÂ focussed on controlling prices on all fronts and can proceed with these efforts for the remaining partÂ of the monetary 12 months,” Glenmark Prescribed drugs Chairman and MD Glenn Saldanha stated.
The corporate was the primary entity within the nation to launch Favipiravir for theÂ therapy of gentle to reasonable COVID-19, he famous.
“Immediately thanks to Glenmark’s scientific trials, many different corporations may additionally launch this molecule, thereby decreasing value of therapy. Our battle againstÂ COVID-19 will proceed and we’ll proceed to innovate on this house to discover different promising therapy choices,” Saldanha stated.
The corporate’s formulation gross sales within the home market throughout the first quarter rose to Rs 779.89 crore from Rs 752.21 crore in the identical interval of earlier fiscal, up 3.68 per cent.
Additional, US-based Glenmark Prescribed drugs Inc reported income ofÂ Rs 742.64 crore for the primary quarter asÂ in opposition to Rs 730.89 crore within the year-ago interval.