Glenmark Pharmaceuticals Limited, a research-led global integrated pharmaceutical company, has announced its financial results for the second quarter ended Sept 30, 2021.
Highlights for Q2 FY 2021-22
- ROW Business grew by 71.5% to Rs. 6,526 Mn
- Europe Business grew by 6.3% to Rs. 3,383 Mn
- EBITDA of Rs. 5,902 Mn grew by 6.8% YoY, with margins of 18.8%.
For the second quarter of FY 2021-22, Glenmark's consolidated revenue was at Rs. 31,474 Mn as against Rs. 29,525 Mn recording an increase of 6.6%.
Consolidated EBITDA was at Rs. 5,902 Mn in the quarter ended Sept 30, 2021 as against Rs. 5,699 Mn in the previous corresponding quarter, registering an increase of 6.8%.
Profit after Tax (PAT)1 was at Rs. 2,577 Mn for the quarter ended Sept 30, 2021 as compared to Rs. 2,340 Mn in the previous corresponding quarter, recording a growth of 10.1%.
"We delivered yet another quarter of consistent performance, both in revenue growth and profitability. We have continued to perform well in our core therapy areas and launched differentiated products." said Glenn Saldanha, Chairman & Managing Director, Glenmark Pharmaceuticals Ltd. He further added, "We have substantially reduced our debt through a combination of internal accruals and IPO proceeds. We are focused on enhancing free cash generation and achieving our strategic objectives going forward.
Shares of Glenmark Pharmaceuticals Limited was last trading in BSE at Rs. 482.90 as compared to the previous close of Rs. 502.25. The total number of shares traded during the day was 141377 in over 8475 trades.
The stock hit an intraday high of Rs. 503.90 and intraday low of 481.00. The net turnover during the day was Rs. 69117481.00.
Source : Equity Bulls