India's Glenmark Pharma Q1 profit drops on higher expenses

Consolidated net profit fell to 1.50 billion rupees ($18.12 million) for the three months ended June 30, from 1.93 billion rupees a year ago, the cetrizine maker said. Glenmark, which caters to therapeutic areas such as diabetes, cardiovascular and oral contraceptives, reported a 19 per cent rise in total expenses to 30.37 billion rupees. This included a 86.7 per cent spike in finance costs.