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Journalism of Courage
JANUARY 27: The exemplary performance in the third quarter has given a big boost to the company’s performance in the current year with sales increasing to Rs 30.15 crore from Rs 28.40 crore last year.
For the nine month period of the current financial year, the company registered sales of Rs 92.99 crore and net profit of Rs 11 crore as against sales of Rs 73.47 crore and net profit of Rs 6.53 crore in the corresponding period in the previous year.
This entails a sales growth of 26.57 per cent and net profitgrowth of 68.45 per cent and the company is likely to exceed its net profit target of Rs. 16 crore in the current year.
Glenmark’s recent public issue was a trend setter in theIndian corporate sector as it was the first pharmaceutical ipo after a gap of nearly four years and its success has set a precedent for pharma companies to tap the capital markets.
