Glenmark Pharma leaps 7% after posting two-fold jump in Q1 profit

The company's other income for the quarter rose to Rs 58.5 crore from Rs 1.7 crore

Shares of Glenmark Pharmaceuticals rose as high as 7 per cent to Rs 508.50 on the BSE on Monday after the company posted an over two-fold increase in consolidated net profit at Rs 254.04 crore for the quarter ended June 2020 (Q1FY21).

The company had reported a net profit of Rs 109.28 crore for the April-June period of 2019-20.

Consolidated revenue stood at Rs 2,344.78 crore for the first quarter, as compared to Rs 2,322.87 crore in the year-ago period, Glenmark Pharmaceuticals said in a regulatory filing. Other income for the quarter rose to Rs 58.5 crore from Rs 1.7 crore.

On the