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Glenmark's consolidated revenue rises 9.05% to Rs. 28,150.4 Mn. in Q2 FY 2019-20

Posted On: 2019-11-18 16:48:09

Glenmark Pharmaceuticals Limited, a research-led global integrated pharmaceutical company, today announced its financial results for the second quarter ended September 30 of financial year 2019-20.

Highlights for Q2 FY 2019-2020

- India Business grew by 15.16% to Rs. 8,963.56 Mn.
- US Business grew by 4.64% to Rs. 8,478.26 Mn.
- Europe Business grew by 9.32% to Rs. 2,850.90 Mn.
- ROW Business grew by 14.32% to Rs. 3,487.98 Mn.
- API Business grew by 7.39% to Rs. 2,697.81 Mn.

In the second quarter ended September 30, 2019, Glenmark's consolidated revenue was at Rs. 28,150.40 Mn. as against Rs. 25,813.32 Mn., recording an increase of 9.05%.

Consolidated Net Profit was at Rs. 2,555.42 Mn. for the quarter ended September 30, 2019 as compared to Rs. 4140 Mn. in the previous corresponding quarter. The Net Profit is not comparable to the previous corresponding quarter on account of an exceptional income of Rs 1,671.82 Mn. recorded in the second quarter of the previous financial year.

Consolidated EBITDA excluding Other income was at Rs. 4,504.08 Mn. in the quarter ended September 30, 2019 as against Rs. 4,401.06 Mn. in the previous corresponding quarter, an increase of 2.3%.

"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 quarter sequentially. The Latam business has also recovered well in the second quarter," said Glenn Saldanha, Chairman & MD, Glenmark Pharmaceuticals. He added, "The overall global macro environment continues to remain challenging and we still hope to sustain the momentum that the business has garnered during the second quarter."

Shares of GLENMARK PHARMACEUTICALS LTD. was last trading in BSE at Rs.365.5 as compared to the previous close of Rs. 301.2. The total number of shares traded during the day was 1610049 in over 30182 trades.

The stock hit an intraday high of Rs. 369.6 and intraday low of 308. The net turnover during the day was Rs. 564289397.

Source: Equity Bulls

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