Drug firm Glenmark Pharmaceuticals Ltd on Friday reported a 22.8 percent year-on-year (YoY) jump in net profit at Rs 272.5 crore for the third quarter that ended December 31, 2022. In the corresponding quarter last year, the company posted a net profit of Rs 221.9 crore.

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In the December quarter, total revenue stood at Rs 3,463.8 crore during the period under review, up 9.2 percent against Rs 3,173.4 crore in the corresponding period of the preceding fiscal.

At the operating level, EBITDA declined 10.5 percent to Rs 620.1 crore in the third quarter of this fiscal over Rs 693.1 crore in the corresponding period in the previous fiscal.

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EBITDA margin stood at 17.9 percent in the reporting quarter as compared to 21.8 percent in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation and amortization.

Glenn Saldanha, chairman and managing director, said the Indian business continued to record a healthy increase in secondary sales. The US business recovered well as the year progressed. The RoW and EU businesses also reflected formidable growth during the quarter.

(Edited by : Pradeep John)