Glenmark Pharmaceuticals falls on reporting consolidated net loss of Rs 62 crore in Q2FY24
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Glenmark Pharmaceuticals is currently trading at Rs. 728.50, down by 34.70 points or 4.55% from its previous closing of Rs. 763.20 on the BSE.
The scrip opened at Rs. 762.80 and has touched a high and low of Rs. 762.80 and Rs. 726.60 respectively. So far 127949 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 879.15 on 21-Sep-2023 and a 52 week low of Rs. 369.50 on 30-Jan-2023.
Last one week high and low of the scrip stood at Rs. 799.90 and Rs. 702.05 respectively. The current market cap of the company is Rs. 20558.77 crore.
The promoters holding in the company stood at 46.65%, while Institutions and Non-Institutions held 35.15% and 18.21% respectively.
Glenmark Pharmaceuticals has reported 28.55% fall in its net profit at Rs 302.35 crore for the second quarter ended September 30, 2023 (Q2FY24) as compared to Rs 423.15 crore for the same quarter in the previous year. Total income of the company decreased by 8.63% at Rs 2,306.99 crore for Q2FY24 as compared to Rs 2,524.94 crore for the corresponding quarter previous year.
On consolidated basis, the company has reported net loss after tax for the period continuing and discontinuing operations at Rs 61.56 crore for Q2FY24 as compared to net profit of Rs 278.67 crore for the same quarter in the previous year. However, total income of the company increased by 3.38% at Rs 3,209.07 crore for Q2FY24 as compared to Rs 3,104.29 crore for the corresponding quarter previous year.
