Glenmark Pharma gains after good Q1 results

Glenmark Pharmaceuticals rose 3.87% to Rs 867.45 at 11:51 IST on BSE after consolidated net profit rose 23.96% to Rs 226.78 crore on 22.13% increase in total income to Rs 2018.97 crore in Q1 June 2016 over Q1 June 2015.

The result was announced during trading hours today, 12 August 2016.

Meanwhile, the BSE Sensex was up 202.26 points, or 0.73%, to 28,061.86.

On BSE, so far 1.47 lakh shares were traded in the counter, compared with average daily volume of 40,658 shares in the past one quarter. The stock hit a high of Rs 870.50 and a low of Rs 828 so far during the day. The stock hit a record high of Rs 1,261.95 on 21 August 2015. The stock hit a 52-week low of Rs 671.50 on 12 February 2016. The stock had underperformed the market over the past 30 days till 11 August 2016, sliding 1.15% compared with 0.16% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 3.87% as against Sensex's 9.30% rise.

The large-cap company has equity capital of Rs 28.22 crore. Face value per share is Re 1.

Glenmark Pharmaceuticals' consolidated revenue rose 17.92% to Rs 1943.05 crore in Q1 June 2016 over Q1 June 2015. Consolidated Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) grew by 24.75% at Rs 454.98 crore in Q1 June 2016 over Q1 June 2015.

The company said that its India business grew by 10.39% to Rs 513.76 crore in Q1 June 2016 over Q1 June 2015. US business grew by 24.44% to Rs 698.18 crore in Q1 June 2016 over Q1 June 2015. Rest of World (ROW) business grew by 23.35% to Rs 194.90 crore in Q1 June 2016 over Q1 June 2015. Europe formulations business grew by 36.50 % to Rs 149.95 crore in Q1 June 2016 over Q1 June 2015. Latin America business declined by 28.77 % to Rs. 155.62 crore in Q1 June 2016 over Q1 June 2015.

Revenue from sale of Active Pharmaceutical Ingredients (APIs) to regulated and semi-regulated markets globally rose 41.71% to Rs 191.22 crore in Q1 June 2016 over Q1 June 2015. Glenmark filed two US Drug Master File (DMF) in Q1 June 2016. The good growth was contributed by sale of Teneligliptin (domestic) & Olmesartan (US market), Lercanidipine, Adapalene, Amiodarone.

Glenmark Pharmaceuticals (GPL) is an integrated pharmaceutical organization. GPL is a leading player in the discovery of new molecules both NCEs (new chemical entity) and NBEs (new biological entity).

Powered by Capital Market - Live News