The company had posted a net profit of Rs. 175.12 crore for the corresponding quarter a year ago.
"The net profit is not comparable due to exceptional item of Rs. 217.53 crore on account of the provision made by Glenmark Generics Inc, USA towards the claims (including incidental expenses) of Abbott Laboratories in the patent litigation in respect of 'Tarka'," Glenmark Pharmaceuticals said in a statement.
After adjusting for exceptional item and apportioning tax on PBT, the net profit is Rs. 215.3 crore for the fourth quarter as compared to Rs.175.1 crore, an increase of 22.94 per cent over the same period of previous fiscal year, it added.
Consolidated net sales of the company rose to Rs. 1,681.74 crore for the fourth quarter, as against Rs. 1,335.48 crore in the same period of the previous fiscal year, the pharma company said.
For the year ended March 31, 2014, the company posted a consolidated net profit of Rs. 545.6 crore, while it was Rs. 628.29 crore in 2012-13.
Consolidated net sales of the company for the year rose to Rs.5,983.85 crore, as against Rs. 5,012.34 crore in fiscal year 2012-13.
"We have reported another year of strong growth fuelled by good performance across our key markets like the US, India and Europe; including our API business," Glenmark Pharmaceuticals chairman and managing director Glenn Saldanha said.
In fact, the company has consistently grown its topline by over 20 per cent year on year for the past three years, he added.
The company's board, which met on Thursday, recommended a final dividend of 200 per cent -- Rs. 2 per equity share of the face value of Re 1 each, for FY 2014.