Glenmark Pharma shares gain over 5% post Q2 earnings

Shares of Glenmark Pharmaceuticals ended with over 5 per cent gains today after the company reported 20 per cent increase in consolidated net profit for the second quarter ended September 30.
The stock settled at Rs 991, up 5.01 per cent from its previous close on BSE. During the day, it surged 6.13 per cent to Rs 1,001.65.
At NSE, shares of the company rose by 5.17 per cent to end at Rs 991.50.
The company's market valuation rose by Rs 1,333.68 crore to Rs 27,961.68 crore.
Glenmark yesterday reported 19.81 per cent increase in consolidated net profit to Rs 197.78 crore for the second quarter ended September 30, driven by good growth in India, the US and Europe.

The company had posted a consolidated net profit of Rs 165.07 crore in the July-September quarter of the last fiscal, 2014-15, Glenmark had said in a statement.
For the second quarter, consolidated revenue was at Rs 1,909.36 crore, as against Rs 1,680.70 crore, up 13.60 per cent, it added.
In the US, the company said its revenue from sale of finished dosage formulations was at Rs 598.4 crore as compared to Rs 507.55 crore in the same quarter last fiscal, up 17.90 per cent.