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Glenmark Pharma share rises over 3% after Q1 earnings beat estimates

Glenmark Pharma share rises over 3% after Q1 earnings beat estimates

The stock touched an intraday high of Rs 583, rising 3.52% against previous close of Rs 563.20 on BSE

Glenmark Pharma share trades higher than 200 day moving averages but lower than 5 day, 20 day, 50 day and 100 day moving averages. Glenmark Pharma share trades higher than 200 day moving averages but lower than 5 day, 20 day, 50 day and 100 day moving averages.

Glenmark Pharma share rose over 3% today after the firm's Q1 earnings beat estimates. Net profit rose 21% to Rs 306.5 crore in Q1 against Rs 254.04 crore in the corresponding quarter of previous fiscal.

Share of the pharma firm has gained after 6 days of consecutive fall.

The stock touched an intraday high of Rs 583, rising 3.52% against previous close of Rs 563.20 on BSE.

The pharma share trades higher than 200 day moving averages but lower than 5 day, 20 day, 50 day and 100 day moving averages.

In one year, the stock has gained 21% but lost 16% since the beginning of this year.

Market cap of the firm rose to Rs 16,187 crore on BSE.

Total 1.71 lakh shares changed hands amounting to turnover of Rs  9.79 crore on BSE.

The stock hit 52-week high of Rs 690.60 on July 19, 2021 and 52- week low of Rs 441.65 on September 22, 2020.

Revenue climbed 26.45% to Rs 2,964 crore in Q1 against Rs 2,344 crore revenue in the corresponding quarter of previous fiscal.

Earnings before interest, tax, depreciation and amortisation (EBITDA) rose 20 per cent on a year-on-year basis to Rs 573.6 crore, and EBITDA margin came in at 19.3 percent.

Glenmark Pharma reported an earnings per share (EPS) of Rs 10.86 in the June quarter, as against Rs 9 in the year-ago period.

"It was a landmark quarter for the company with positive momentum in all our key markets. Our commitment towards the fight against Covid-19 was reflected in FabiFlu becoming the number one brand in the India pharma market in April," said Glenn Saldanha, Chairman and Managing Director, Glenmark Pharmaceuticals.

Revenue from the formulation business in India grew 57 percent on a year-on-year basis to Rs 1,225 crore.

Published on: Aug 16, 2021, 1:46 PM IST
Posted by: Aseem Thapliyal, Aug 16, 2021, 1:35 PM IST