Glenmark Pharma scrip gains 6% post Q2 earnings

Mumbai: Shares of Glenmark Pharmaceuticals today climbed 6 per cent after the company reported 20 per cent increase in consolidated net profit for the second quarter ended September 30.

The stock gained 5.96 per cent to Rs 1,000 at BSE. On NSE, it rose by 6 per cent to Rs 999.80.

Glenmark yesterday reported 19.81 per cent increase in consolidated net profit to Rs 197.78 crore for the second quarter ended September 30, driven by good growth in India, US and Europe.

The company had posted consolidated net profit of Rs 165.07 crore in the July-September quarter of the last fiscal, 2014-15, Glenmark had said in statement.

For the second quarter, consolidated revenue was at Rs 1,909.36 crore, as against Rs 1,680.70 crore, up 13.60 per cent, it said.

In the US, the company said its revenue from sale of finished dosage formulations was at Rs 598.4 crore as compared to Rs 507.55 crore in the same quarter last fiscal, up 17.90 per cent.