Glenmark Pharma Q2 cons net profit at Rs. 2,141.20 mn

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Glenmark Pharmaceuticals Limited announced its results for the second quarter ended September 30, 2017.

For the second quarter ended September 30, 2017, Glenmark’s consolidated revenue was at Rs. 22,565.90 Mn (USD 351.29 Mn) as against Rs. 22,241.09 Mn (USD 336.55 Mn) recording an increase of 1.46%.

The consolidated Net Profit was at Rs. 2,141.20 Mn for the quarter ended September 30, 2017 as compared to Rs. 2,235.85 Mn for the previous corresponding quarter registering a decrease of 4.23%. Consolidated EBITDAdecreased by 6.45% at Rs. 4,181.22 Mn as against Rs. 4,469.29 Mn in the quarter.

“The overall performance was driven by our India, Europe & API business. Despite several challenges in the market, India business recorded high single digit growth. The Europe business performed very well during the quarter due to a strong performance by the Western European region”, said Glenn Saldanha, Chairman & MD,
Glenmark Pharmaceuticals Limited.

Yash Ved
Yash Ved is a Senior Correspondent at NewsBarons and comes with a decade of experience across leading online and offline publications. A keen observer of the stock index movement, Yash also likes covering Real Estate and the BFSI sector. A financial management and Journalism student, Yash believes learning as a continuous journey and enjoys following the IT and the Pharmaceutical industry and has penned many articles on the subjects.