Glenmark Pharma shares gain over 4% post Q2 results

The stock went up by 3.48 per cent to Rs 938 on BSE. At NSE, shares of the company gained 4.1 per cent to Rs 939.35.

By: PTI | New Delhi | Published:October 28, 2016 12:12 pm
Glenmark Pharmaceuticals. Glenmark Pharmaceuticals

Glenmark Pharma’s scrip rose by over 4 per cent today after the company reported 3.46 per cent rise in consolidated net profit for the second quarter ended September 30. The stock went up by 3.48 per cent to Rs 938 on BSE. At NSE, shares of the company gained 4.1 per cent to Rs 939.35.

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Glenmark Pharma on Friday reported 3.46 per cent rise in consolidated net profit to Rs 223.58 crore for the second quarter. It had reported net profit of Rs 216.10 crore for the July-September quarter of the 2015-16 fiscal, Glenmark said in a BSE filing.

Its consolidated revenue was up 16.48 per cent to Rs 2,224.10 crore during the quarter under review as against Rs 1,909.36 in the same period last year.

Glenmark Pharmaceuticals Chairman and MD Glenn Saldanha said: “The overall business has gained good traction especially across key geographies. The entire emerging markets business ex-India which got severely hit in the past few years on account of currencies is also recuperating well.”