Glenmark Pharmaceuticals Ltd shares jumped 4% following the release of its Q3 results. As of 10:14 AM, the shares were trading 3.48% higher at Rs 1,369.15.
The company posted a net profit of ₹347.9 crore, a significant recovery from a loss of ₹351.3 crore in the same quarter last year.
Revenue from operations surged by 35.1%, reaching ₹3,387.6 crore compared to ₹2,506.7 crore in Q3 FY24. At the operating level, EBITDA soared to ₹600.3 crore, a remarkable turnaround from a loss of ₹208.7 crore in the year-ago quarter. The EBITDA margin stood at a healthy 17.7%.
Glenmark’s India business led the growth, with formulation segment sales skyrocketing by 300.2% YoY to ₹10,637 million. The Europe business also saw a 14.8% YoY increase, totaling ₹7,297 million, while the Rest of the World (RoW) segment grew 3% to ₹7,491 million. North America showed marginal growth of 1.4%, with revenue rising to ₹7,813 million.
Glenmark Pharma opened at 1,320.00, with the stock reaching a high of 1,377.15 and a low of 1,280.30 on the day. The 52-week high stands at 1,830.95, while the 52-week low is 853.00.
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