![Glenmark](https://img.etimg.com/thumb/msid-107700907,width-210,height-158,imgsize-23946,resizemode-75/glenmark.jpg)
Total revenue from operations declined to Rs 2,507 crore as compared with Rs 3,100 crore in the year-ago period, Glenmark Pharma said in a statement.
The lower sales in the current quarter are mainly on account of a one-time impact on the company's India business, it added.
"The company is going through a transitionary phase on account of the divestment of Glenmark Life Sciences. In spite of the one time impact on our India business revenue due to the changes in our distribution model, our secondary sales growth remains strong, and we continue to outperform the market in our key therapy areas," Glenmark Pharmaceuticals Chairman and Managing Director Glenn Saldanha said.
Meanwhile, the company's Europe and the rest of world (RoW) markets have maintained their robust growth trajectories, he added.
"We anticipate a resurgence of our US business from Q4; driven by new injectable product launches," Saldanha noted.
The company's sales from the formulation business in India in the third quarter stood at Rs 262 crore as against Rs 1074 crore in the previous corresponding quarter, recording a decline of 76 per year on year.
North America business saw sales of finished dosage formulations of Rs 763 crore for the quarter ended Dec 31, 2023 as against Rs 837 crore in the year ago period.
(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2024 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)
Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.
Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
Read More News on
(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2024 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)
Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.
Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price