17 Aug 2024

Glenmark Pharmaceuticals Soars with 9-Fold Increase in Q1 Consolidated Net Profit

Glenmark Pharmaceuticals is currently trading at Rs. 1560.95, a rise of 69.95 points or 4.69% from its previous close of Rs. 1491.00 on the BSE.

The stock opened at Rs. 1518.70, reaching a high of Rs. 1576.65 and a low of Rs. 1427.35 during the day. A total of 145,427 shares have been traded so far.

This BSE group 'A' stock with a face value of Rs. 1 reached a 52-week high of Rs. 1576.65 on August 16, 2024, and a 52-week low of Rs. 702.05 on November 12, 2023.

In the past week, the stock's high and low were Rs. 1576.65 and Rs. 1427.35, respectively. The company's current market cap stands at Rs. 44,042.52 crore.

Promoter holdings in the company are at 46.65%, with Institutions and Non-Institutions holding 34.94% and 18.41%, respectively.

Glenmark Pharmaceuticals reported a 67.02% increase in net profit to Rs. 453.73 crore for the first quarter ended June 30, 2024 (Q1FY25), compared to Rs. 271.66 crore for the same quarter the previous year. The company's total income rose by 8.73% to Rs. 2385.19 crore for Q1FY25, up from Rs. 2193.75 crore in the corresponding quarter of the previous year.

On a consolidated basis, Glenmark posted a 9-fold increase in net profit to Rs. 340.24 crore for the quarter ended June 30, 2024, compared to Rs. 37.68 crore for the same period the previous year. The total income on a consolidated basis grew by 7.20% to Rs. 3275.68 crore for Q1FY25, up from Rs. 3055.79 crore in the corresponding quarter of the previous year.