Glenmark Shares Jump Over 5% After Posting Bumper Profits

Glenmark Pharmaceuticals is poised to end this trading week on a high. The Mumbai-based pharmaceutical giant released their quarterly results for the first quarter of the new fiscal year or FY25. In the results published through an exchange filing, the company posted a bumper profit of Rs 340.2 crore.

Pharma Company Posts Bumper Profits

A year-on-year comparison of the figures shows a mammoth 97 per cent jump in its numbers. In the corresponding quarter of the previous fiscal year, the company made a net profit of Rs 173.1 crore.

The company shares grew as the markets returned after the mini-hiatus on Thursday, when the markets were off on account of August 15. The stock price rose by over 5 per cent.

The pharma company also beat its estimates, which pegged the value of the gain at around Rs 313 crore. In addition to a rise in the net profit, company also saw revenue rise to Rs 3,244.2 crore. This marked 6.9 per cent year-on-year growth.

Other than that, as per the standalone statement, the company's total expenses also dropped to Rs 1,766.87 crore, compared to Rs 1,770 crore, in the corresponding quarter of the previous fiscal year.

Glenmark Shares Rise

However, when it comes to revenue, the company missed the estimates that expected the company to accrue a total revenue of Rs 3,295 crore.

In addition, the operating income reached Rs 588.2 crore, up 34 per cent on a yearly basis. The EBITDA margin also saw a rise. Glenmark's EBITDA rose from 14.4 per cent to 18.1 per cent over the past year.

At Dalal Street, investors appear to have responded well to these positive developments; after a period of minor decline early on in the day, the company shares rose significantly. At 11:44 IST, the company shares rose by 5.14 per cent or Rs 76.70, taking the overall value to Rs 1,567.90 per share.