Glenmark posts robust Q4 numbers globally

A research oriented Pharma company Glenmark posted robust Q4FY16 revenues while net profits remained in line with the previous quarter. Company’s revenue for Q4FY16 was Rs 2174.02 crore as against Rs 1724.46 in the previous quarter recording in an increase of 26.1 per cent. EBITDA decreased by 18.2 per cent from Rs 369.77 crore to Rs 302.63 crore on the back of increased expenses. Net profits came in at Rs 171.49 crore as compared to Rs 169.95 crore.

Year on year revenues for the company grew at 24 per cent from Rs 1753.79 crore. EBITDA rose by 7.5 per cent from Rs 281.4 crore. YoY net profits for the same quarter last year stood at Rs 10.59 crore amid negative exceptional items of Rs 187.09 crore.

Yearly results show that Glenmark’s revenues for the year ended March 2016 posted a rise of 11.7 per cent as against Rs 6595.26 crore. EBITDA rose 17.1 per cent to Rs 1433.86 crore from Rs 1224.62. Net profits rose 51.5 per cent to Rs 720.1 crore followed by Nil exceptional items which were negative in the previous year.

Segment wise Glenmark’s India business grew at 22.52 per cent. U.S. business saw a rise of 21.56 per cent. Europe business grew by 11.18 per cent while Latin America business saw the highest growth of 33.47 per cent.

Today Glenmark stock opened on a positive note and was up 2.84 per cent at Rs 883 after posting positive results yesterday after the markets hours.