Glenmark Pharmaceuticals (Glenmark), a manufacturer of generic formulation products and API, announced a marginal rise in consolidated net profit for the quarter ended June 2015.  During the quarter, the profit of the company rose 3.29% to Rs 1,909.38 million from Rs 1,848.48 million  in the same quarter previous year.

Revenues for the quarter  rose 13.60% to Rs 16,552.48 million, compared with Rs 14,570.35 million for the prior year period.

Consolidated EBITDA was at Rs. 3,595.79 million in Q1 FY 15-16 as compared to Rs. 3,423.32 million in the previous corresponding period.

Sales for the formulation business in India for the first quarter ended Jun. 30, 2015, was at Rs 4729.30 million (USD 74.72 million) as against Rs 3971.59 million (USD 66.40 million) in the previous corresponding quarter, recording growth of 19.08%.

''We have recorded good growth during the quarter for our India, US LatAm and Europe businesses. While we continue to outperform in the Indian Pharmaceuticals market; our US Business also registered decent growth in the quarter aided by ANDA approvals for six products. Our LatAm business performed exceedingly with Brazil, Mexico and Venezuela recording good sales growth. We have been also making steady progress in our innovation pipeline as we persist with our relatively high investments on R&D to build both our novel as well as generics products pipeline,'' said Glenn Saldanha, chairman & MD, Glenmark Pharmaceuticals.

Shares of the company gained Rs 56.25, or 5.88%, to trade at Rs 1,012.55. The total volume of shares traded was 132,857 at the BSE (10.57 a.m., Friday).