GLENMARK PHARMACEUTICALS = RESULTS = FOR Q3 FY 2011 = QTR ENDING DECEMBER 2010 = CONSOLIDATED NET PROFIT UP BY 16.46%

Glenmark Pharmaceuticals Limited

NSE Symbol   GLENMARK

Glenmark Pharma has declared its Results for 3^rd quarter ending December, 2010.

Net Sales is Rs.751 cr – up by 3.67% from Q2 FY 11 and by 17.01% from Q3 FY 2010.

Total Expenditure is Rs.619 cr – up by 5.12% from Q2 FY 11 and by 20.29% from Q3 FY 2010.

Profit from Operations is Rs.140 cr – down by 8.51% from Q2 FY 11 and Up by 4.33% from Q3 FY 2010.

Consolidated Net Profit is Rs.110 cr – down by 1.85% from Q2 FY 11 and up by 16.46% from Q3 FY 2010.

Basic EPS is Rs.3.99, against Rs.4.06    in Q2 FY 11 and Rs.3.43 FY 2010.

RESULTS IN FIGURES:

GLENMARK - CONSOL	Q 3 FY 11	Q 2 FY 10	Q 3 FY 10
Net Sales	75081.55	72426.36	64168.46
DIF %1	751	3.67	17.01
Other Oprtng Income	767.62	1711.97	666
Incre./Decre. in SIT/WIP	-8360.55	273.86	729.44
Raw Materials	20841.24	17776.92	16741.4
Traded goods	12336.98	6565.89	2741.84
Employees Cost	11967.69	11111.02	9188.82
Depreciation	3438.85	3431.76	3633.21
Other Expenditure	21653.7	19707.25	18407.84
Total Expenditure	61877.91	58866.7	51442.55
DIF %2	619	5.12	20.29
Profit from Operations	13971.26	15271.63	13391.91
DIF %3	140	-8.51	4.33
Other Income	2656.84	1816.53	131.24
Profit before I & EI	16628.1	17088.16	13523.15
Interest	3039.09	3081.72	3676.77
Profit after Int. BB EI	13589.01	14006.44	9846.38
Profit before tax	13589.01	14006.44	9846.38
Tax Expense	2633.39	2843.94	439.02
Net Profit after tax	10955.62	11162.5	9407.36
Net Profit	10955.62	11162.5	9407.36
Consolidated Net Profit	10955.62	11162.5	9407.36
DIF %4	110	-1.85	16.46
Face Value (in Rs.)	1	1	1
Paid-up Equity	2701.69	2700.44	2697.02
Basic EPS (in Rs.)	3.99	4.06	3.43
Diluted EPS (in Rs.)	3.98	4.05	3.42
Public Shareholding (%)	51.68	51.66	51.61

Review of Operations for the Third Quarter of the

Financial Year 2010-11

For the third Quarter of FY’2011, Glenmark’s consolidated revenue was at Rs. 7,508.15 Mn [USD 165.34 Mn] as against Rs. 6,416.85 Mn [USD 136.30 Mn], an increase of 17%.

Revenue from the generics business was at Rs. 2,987.55 Mn (USD 65.91 Mn), as against Rs. 2,804.41 Mn (USD 59.57 Mn), a growth of 7%.

The Speciality formulation business revenue was at Rs. 4,520.61 Mn (USD 99.43 Mn) as against Rs. 3,612.44 Mn (USD 76.73 Mn) for the corresponding quarter of the previous year, registering a growth of 25%.

For the nine month ended Dec 31, 2010, Glenmark’s consolidated revenue was at Rs.21,569.39 Mn [USD 469.89 Mn] as against Rs. 17,756.98 Mn [USD 367.64Mn], an increase of 21%.

Revenue from the generics business was at Rs. 8,900.08 Mn (USD 193.89 Mn), as against Rs. 7,767.25 Mn (USD 160.81 Mn), a growth of 15%.

The Speciality formulation business revenue was at Rs. 12,669.31 Mn (USD 276.00 Mn) as against Rs. 9,989.73 Mn (USD 206.83Mn) for the corresponding nine months of the previous year, registering a growth of 27%.

The company is introducing /in the process of introducing several products - all of which indicate bright future for the company.

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