Glenmark Prescribed drugs Ltd.’s first-quarter revenue declined, however beats estimates.
The Mumbai-based bulk and generic drugmaker’s web revenue declined 31% year-on-year to Rs 211 crore within the quarter ended June, in accordance with its trade submitting. That compares with the Rs 182-crore consensus estimate of analysts tracked by Bloomberg.
Glenmark Pharma Q1 Highlights (YoY)
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Income fell 6% to Rs 2,777 crore in opposition to an estimate of Rs 2,866 crore
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Ebitda was down 25% at Rs 432 crore in opposition to the Rs 475-crore forecast.
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Margin stood at 15.5% in opposition to 19.3%. That compares to the forecast of 16.6%.
Glenn Saldanha, chairman and managing director, Glenmark Prescribed drugs mentioned within the trade submitting that the corporate delivered a robust double digit development of their base enterprise through the quarter excluding the impression of Covid-related merchandise.
“Our objective is to proceed rising our base enterprise via new product launches in our key focus areas of respiratory, dermatology, and oncology.”
Shares of Glenmark Pharma closed 1.02% greater forward of the earnings, in contrast with an virtually unchanged benchmark S&P BSE Sensex.