Glenmark Pharma Q4 Results: Profit declines 12.3% on higher input costs and lower demand
Glenmark Pharmaceuticals' Q4 consolidated profit before exceptional items and tax was INR3.09bn ($37.78m) for the quarter ended 31 March, down 12.3% compared to a year earlier, due to increased input costs and lower demand in the Indian drugs market. The firm posted one-time costs of INR8bn due to settlements over lawsuits in the US related to antitrust issues and consumer protection. While its sales rose 11.5%, the Indian drugs segment reported a 6.4% sales decline, accounting for 31% of its total, while North American sales grew by 15.3%.