Glenmark Pharma posted its Q1FY20 results on Tuesday post market hours.
The pharma major's consolidated net profit came in at Rs109.28cr for the first quarter ended June 30, 2019 vs. Rs232.99cr in the same period of previous year.
The figures are not comparable as the last financial year included a one-time forex gain of Rs138.21cr.
The company's consolidated revenue stood at Rs2,322.87cr for the April-June quarter, while the same stood at Rs2,165.61cr in Q1FY19.
"Our first quarter performance in key markets like India and Europe was impressive on account of new product launch and partnership deals. However, the overall performance was impacted due to moderate performance in the US and subdued performance in LATAM (Latin America). We will continue to steadily invest in the new innovation business with an objective of accelerating the pipeline towards commercialisation," Glenmark Chairman and MD Glenn Saldanha said.
Glenmark Pharmaceuticals Ltd ended at Rs417 down by Rs9.3 or 2.18% from its previous closing of Rs426.30 on the BSE.
The scrip opened at Rs426.30 and touched a high and low of Rs435 and Rs412.45 respectively. A total of 17,04,558 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs11,767.47cr.
Post a Comment