<div><strong>By CH Unnikrishnan</strong></div><div> </div><div>Research focused generic drug maker Glenmark Pharmaceuticals on Thursday (29 October) said the company posted about 20 per cent growth in net profit at Rs 197.78 crore for the July-September quarter. Its sales grew 13.6 per cent to Rs 1,909 crore during this period as compared to Rs 1,680 crore a year ago. </div><div><br>“We have recorded good overall growth in the quarter powered by our India, US and Europe businesses, although the devaluation of currencies across emerging markets, especially in countries like Brazil and Russia had an adverse effect on our operations,” said Glenmark chairman and managing director Glenn Saldanha in a Thursday statement.</div><div> </div><div>The company’s sales in India during the quarter at Rs. 608.54 crore was up around 35 per cent compared to Rs 478 crore. While, its US and European sales went up by 18 per cent and 23 per cent to Rs 598 crore and Rs 160 crore respectively.</div><div> </div><div>“Going ahead, we expect our India, US and Europe businesses to continue to drive growth for our company,” added Saldanha.</div><div><br>However, the company’s revenue from its Latin American and Caribbean operations at Rs 165. 67 crore, recorded a decrease of 28.24 per cent in the second quarter.</div><div> </div><div>For the first half ended September 30, Glenmark’s consolidated revenue at Rs 3564.61 crore as against Rs 3167.64 crore was up by 12.53 per cent over the previous corresponding period.</div>
