Glenmark Pharmaceuticals has surged 6% to Rs 419 on the Bombay Stock Exchange (BSE), after reporting about three-fold jump in its consolidated net profit at Rs 157 crore for the quarter ended September 30, 2012, mainly on account of robust sales across all segments.
The company had posted a net profit of Rs 57 crore in the same quarter of previous fiscal. Consolidated net sales of the company grew 19% at Rs 1,255 crore on year-on-year basis.
The net profit for the quarter is not comparable due to out-licensing income received in the previous corresponding second quarter and MTM losses recorded in the second quarter of the previous financial year, the company said in statement.
The stock opened at Rs 410 and has seen a combined around 105,000 shares changing hands on the counter on both the exchanges.
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