Glenmark Life Sciences Q3 profit rises 1 percent on API strength
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Bengaluru: Indian active pharma ingredients maker Glenmark Life Sciences has reported a narrow 1 percent rise in quarterly profit, as growth in its key generic active pharma ingredients (API) segment offset high costs of raw materials.
The Mumbai-based drug maker's profit rose to 1.05 billion rupees ($12.86 million) in the three months ended Dec 31, from 1.04 billion rupees a year ago.
The generic API segment, which contributes to almost 90 percent of the company's revenue, grew 1.8 percent, benefiting from a capacity expansion at the company's Dahej facility, as well as growth in its regulated markets business.
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