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Glenmark Pharma jumps after strong Q2 outcome

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Glenmark Pharmaceuticals spurted 5.15% to Rs 296.85 after reporting consolidated net profit of Rs 255.54 crore in Q2 September 2019 as against net profit of Rs 414 crore in Q2 September 2018.

The net profit is not comparable to the previous corresponding quarter on account of an exceptional income of Rs 167.18 crore recorded in the second quarter of the previous financial year.

Consolidated revenues rose 9.05% to Rs 2815.04 crore in Q2 September 2019 from Rs 2581.33 crore in Q2 September 2018.

Consolidated EBITDA, excluding other income, was at Rs 450.40 crore in Q2 September 2019 as against Rs 440.10 crore in in Q2 September 2018, an increase of 2.3%.

Glenn Saldanha, chairman & MD, Glenmark Pharmaceuticals said, We have rebounded strongly in the second quarter with most of our businesses recording good growth. The India business has continued to witness strong growth while the US sales have grown quarter over quartersequentially. The Latam business has also recovered well in the second quarter.

Glenmark Pharmaceuticals is a research-driven, global, integrated pharmaceutical organization.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, November 15 2019. 12:39 IST