Glenmark’s Consolidated Net Profit Rises By 64% In Q3 FY 2019-20

Glenmark Pharmaceuticals Limited, a research-led global integrated pharmaceutical company, today announced its financial results for the third quarter ended December 31 of the financial year 2019-20.

In the third quarter ended December 31, 2019, Glenmark’s consolidated revenue was at Rs. 27,355.61 Mn (USD 385.64 Mn) as against Rs. 25,550.45 Mn (USD 355.87 Mn) in the previous corresponding quarter, recording an increase of 7.07%.

Consolidated Net Profit was at Rs. 1,908.39 Mn for the quarter ended December 31, 2019 as compared to Rs. 1,163.41 Mn in the previous corresponding quarter, registering an increase of 64.03%. Consolidated EBITDA was at Rs. 4,400.75 Mn in the quarter ended December 31, 2019 as against Rs. 4,346.80 Mn in the previous corresponding quarter, an increase of 1.2%.

Highlights for Q3 FY 2019-20

– India Business grew by 18.17% to Rs. 7,888.39 Mn
– US Business de-grew by 6.53% to Rs. 7,998.28 Mn
– Latin America Business grew by 54.11% to Rs. 1,563.18 Mn.
– API Business grew by 9.58% to 2,621.56 Mn

“While the US business lost some of its momentum in the third quarter, the India business continued to grow at a healthy pace, consistently outperforming industry growth. We expect the ROW region and the European business to gain traction in the coming few quarters. ” said Glenn Saldanha, Chairman and Managing Director, Glenmark Pharmaceuticals. He further added “Despite the challenging macroeconomic environment globally, the organization still continued to record high single digit revenue growth and we hope that we can consistently grow the business every year.”

Shares of GLENMARK PHARMACEUTICALS LTD. was last trading in BSE at Rs.333.65 as compared to the previous close of Rs. 327.65. The total number of shares traded during the day was 104393 in over 2567 trades.

The stock hit an intraday high of Rs. 337.2 and intraday low of 328.1. The net turnover during the day was Rs. 34789433.-Equity Bulls