Glenmark Pharma shares gain after Q1 profit jumps two-fold to Rs 254 crore

The company's formulation sales in the domestic market in the first quarter rose to Rs 779.89 crore from Rs 752.21 crore in the same period of previous fiscal, up 3.68 percent.

Glenmark Pharma share price gained more than 2 percent intraday on August 17 after the company reported a more than two-fold increase in consolidated net profit at Rs 254.04 crore for the quarter ended June.

The pharma company had reported a net profit of Rs 109.28 crore for the April-June period in 2019-20.

Consolidated revenue stood at Rs 2,344.78 crore for the first quarter, as compared to Rs 2,322.87 crore in the year-ago period, Glenmark Pharmaceuticals said in a regulatory filing.

The stock, which has gained over 72 percent in the last nine months, was trading at Rs 486.80, up Rs 11.40, or 2.4 percent. It touched an intraday high of Rs 508.50 and an intraday low of Rs 482.50.

The company was the first in the country to launch Favipiravir for the treatment of mild to moderate COVID-19, it said.

The company's formulation sales in the domestic market during the first quarter rose to Rs 779.89 crore from Rs 752.21 crore in the same period of previous fiscal, up 3.68 percent.

Further, US-based Glenmark Pharmaceuticals Inc reported revenue of Rs 742.64 crore for the first quarter as against Rs 730.89 crore in the year-ago period.

Nomura has a buy call on Glenmark with a target of Rs 663 per share. It is of the view that Q1 results were operationally ahead of estimates. It is undertaking initiatives on cost control; part of the lower cost may sustain beyond the pandemic, said a CNBC-Tv18 report.

Disclaimer: The views and investment tips expressed by experts on moneycontrol.com are their own and not those of the website or its management. SD Solutions advises users to check with certified experts before taking any investment decisions.

Comments

Ashoka Buildcon share price up 4% on bagging 2 NHAI projects

The share touched its 52-week high Rs 127.90 and 52-week low Rs 37.00 on 23 September, 2019 and 03 April, 2020, respectively. Ashoka Buildcon share price added over 4 percent in early trade on September 8 after the company emerged as the lowest bidder (L-1) for the two NHAI projects. The aggregate quoted value of the projects is Rs 1,390 crore. The company had submitted bids to National Highway Authority of India (NHAI) for the project of four laning of Arra h to Pararia section of NH-319(Old NH-30) in the State of Bihar under Bharatmala pariyojana Phase -1 on EPC Mode (Package-I) and Four laning of Pararia to Mohania section of NH-319(Old NH-30) in Bihar under Bharatmala Pariyojana Phase-I on EPC Mode (Package II). At 09:23 hrs Ashoka Buildcon was quoting at Rs 70.60, up Rs 2.40, or 3.52 percent on the BSE. The share touched its 52-week high Rs 127.90 and 52-week low Rs 37.00 on 23 September, 2019 and 03 April, 2020, respectively. Currently, it is trading 44.8 percen...

Reliance Jio Q3 results: Profit grows to Rs 3,489 crore; ARPU rises to Rs 151

The average revenue per user (ARPU) during the quarter came at Rs 151 per subscriber per month as against Rs 145 per subscriber per month in the September quarter. Reliance Jio, the telecommunications arm of Jio Platforms, on January 22 posted a net profit of Rs 3,489 crore for the quarter ended December 31, 2020. The profit was higher than the street expectations as analysts in a CNBC-TV18 poll had estimated the number at Rs 3,200 crore. Jio's net profit grew 15.5 percent QoQ as in the September quarter of FY21, its profit was Rs 3,020 crore. The average revenue per user (ARPU) during the quarter came at Rs 151 per subscriber per month as against Rs 145 per subscriber per month in the September quarter. A CNBC-TV18 poll had estimated ARPU at Rs 148.2. Revenue, including access revenues for the quarter, was Rs 22,858 crore ($3.1 billion), up 5.3 percent QoQ. A CNBC-TV18 poll had estimated revenue to the tune of Rs 18,165 crore. EBITDA for the quarter stood at Rs 8,483 crore ...

Info Edge share price gains after Q1 profit surges 149% YoY

The company reported consolidated net profit at Rs 93.66 crore which surged 149 percent as compared to Q1FY20 when it reported loss of Rs 190.91 crore. Info Edge share price gained over 2 percent in the morning trade on September 8, a day after the company declared its Q1 results. The company reported consolidated net profit at Rs 93.66 crore, which surged 149 percent, as compared to Q1FY20, when it reported loss of Rs 190.91 crore. The net profit margin in Q1FY21 came in at 32.86 percent which jumped by 92.58 percent YoY. Consolidated net revenue in Q1FY21 stood at Rs 285 crore, which fell by 10.85 percent YoY from Rs 319.7 crore in Q1FY20. Its EBITDA stood at Rs 104 crore in Q1FY21 which jumped 16.62 percent YoY. The stock price gained 62 percent in the last 1 year and was trading at Rs 3,370.35, up Rs 78.45, or 2.38 percent. It has touched an intraday high of Rs 3,400.00 and an intraday low of Rs 3,363.05. According to Moneycontrol SWOT Analysis powered by Trendlyne, F...

SD Solutions

Search This Blog