Mercury rises for Glenmark Pharma in a volatile market

Glenmark Pharma has managed to remain in green in this volatile market, on Aug 16. As at 11.43 am shares of the company are trading at Rs 854.65, up by 1.05 per cent. On the other hand, Sensex is at 28016, down by 135 points. In the last 3 months, shares have given a return of 2 per cent. However, in the last 1 year, shares have plunged by 24 per cent. 52-week High/Low stands at Rs 1262/672.

On Aug 12, company had announced its Q1FY17 results. Company has reported strong earnings this quarter, which is the only reason the stock has managed to remain in the green. In Q1FY17, total revenue of the company has increased by 18 per cent (YoY) and stands at Rs 1943.05 crores. Net profit stands at Rs 227 crores, which has increased by 24 per cent as compared to the corresponding quarter of the previous fiscal. India, the company’s second largest market has grown at 10.4 per cent to Rs 513.7 crore on account of market share growth across key therapeutic segments such as cardiac, respiratory, and dermatology. US business and the recent approvals has put the company’s financials in a strong position in this quarter.

Glenmark Pharmaceuticals Limited is a global integrated pharmaceutical company. The company has its presence in branded generic markets. It is engaged in the discovery of new molecules; and is engaged exclusively in one sector viz. Pharmaceuticals.