Glenmark Pharmaceuticals Ltd Q1FY21 consolidated PAT climbs to Rs. 254.04 crore

GLENMARK PHARMACEUTICALS LTD. has reported financial results for the period ended June 30, 2020.

Financial Results (Q1 FY 2020-21) - QoQ Comparison

The company has reported total income of Rs.2403.30 crores during the period ended June 30, 2020 as compared to Rs.2811.63 crores during the period ended March 31, 2020.

The company has posted net profit / (loss) of Rs.254.04 crores for the period ended June 30, 2020 as against net profit / (loss) of Rs.220.30 crores for the period ended March 31, 2020.

The company has reported EPS of Rs.9 for the period ended June 30, 2020 as compared to Rs.7.81 for the period ended March 31, 2020.

Financials	Q1 FY2020-21	Q4 FY19-20	% Change
Total Income	₹ 2403.30 crs	₹ 2811.63 crs	-14.52%
Net Profit	₹ 254.04 crs	₹ 220.30 crs	15.32%
EPS	₹ 9	₹ 7.81	15.24%

Financial Results (Q1 FY 2020-21) - YoY Comparison

The company has reported total income of Rs.2403.30 crores during the period ended June 30, 2020 as compared to Rs.2324.54 crores during the period ended June 30, 2019.

The company has posted net profit / (loss) of Rs.254.04 crores for the period ended June 30, 2020 as against net profit / (loss) of Rs.109.28 crores for the period ended June 30, 2019.

The company has reported EPS of Rs.9 for the period ended June 30, 2020 as compared to Rs.3.87 for the period ended June 30, 2019.

Financials	Q1 FY2020-21	Q1 FY2019-20	% Change
Total Income	₹ 2403.30 crs	₹ 2324.54 crs	3.39%
Net Profit	₹ 254.04 crs	₹ 109.28 crs	132.47%
EPS	₹ 9	₹ 3.87	132.56%

"It has been a challenging quarter across all markets due to the ongoing pandemic. Despite the difficult operating environment, we managed to record sales growth for the organisation. We focused on controlling costs on all fronts and will continue with these efforts for the remaining part of the financial year" said Glenn Saldanha, Chairman & MD, Glenmark Pharmaceuticals Ltd. He further added, "We are glad that we were the first company in India to launch Favipiravir for the treatment of mild to moderate COVID-19. Today thanks to Glenmark's clinical trials, many other companies could also launch this molecule, thereby reducing cost of treatment. Our fight against COVID-19 will continue and we will continue to innovate in this space to explore other promising treatment options."

Shares of GLENMARK PHARMACEUTICALS LTD. was last trading in BSE at Rs.475.4 as compared to the previous close of Rs. 464.55. The total number of shares traded during the day was 717031 in over 20140 trades.

The stock hit an intraday high of Rs. 484.9 and intraday low of 467.25. The net turnover during the day was Rs. 343118113.

Source : Equity Bulls

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