Latest News | Glenmark Q2 Net Profit at Rs 234 Cr

New Delhi, Nov 6 (PTI) Drug firm Glenmark Pharmaceuticals on Friday reported a consolidated net profit of Rs 233.99 crore for the second quarter ended September 30.

The company had posted a net profit of Rs 255.54 crore for the same period previous fiscal, Glenmark said in a BSE filing.

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Its consolidated revenue stood at Rs 2,952.47 crore for the quarter under consideration. It was Rs 2,815.04 crore for the same period a year ago, it added.

"The net profit is not comparable on account of forex gain recorded in the previous corresponding quarter of the financial year 19-20," Glenmark said in the regulatory filing.

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Commenting on the results, Glenmark Pharmaceuticals Chairman and MD Glenn Saldanha said: "Our relentless focus on costs and new product introductions during these challenging times have helped increase revenue and operating profit in the second quarter of this financial year".

India and active pharmaceutical ingredient (API) business performed well along with the Europe and ROW region, he added.

Shares of Glenmark Pharmaceuticals closed at Rs 511.50 per scrip on BSE, up 0.47 per cent from its previous close.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)