Glenmark Pharma Q3 Results: Company Reports Profit, Revenue Rises 35%

Glenmark Pharmaceutical Ltd.'s consolidated revenue rose 35% for the quarter ended December. The company reported a revenue of Rs 3,388 crore, a 35% year-on-year jump from Rs 2,507 crore, missing Bloomberg analysts' estimate of Rs 3,489 crore.

The firm's net profit stood at Rs 348 crore compared to a loss Rs 470 crore in the previous fiscal. However, it missed estimate of Rs 368 crore.

Its earnings before interest, taxes, depreciation, and amortisation increased up to Rs 600 crore, compared to Rs 209 crore in the same period last year. This is in line with the Bloomberg estimate of Rs 633 crore.

Its margin was at 17.7%; this was in line with the estimate of 18.10% from analysts tracked by Bloomberg.

• Net profit at Rs 348 crore versus loss of Rs 470 crore (Bloomberg estimate: Rs 368 crore).

• Revenue up 35% to Rs 3,388 crore versus Rs 2,507 crore (Bloomberg estimate: Rs 3,489 crore).

• Ebitda up to Rs 600 crore versus Rs 209 crore (Bloomberg estimate: Rs 633 crore).

• Margin at 17.7% (Bloomberg estimate: 18.10%).

Shares of Glenmark Pharma closed 6.25% lower at Rs 1,323.05 per share, compared to a 0.44% decline in the benchmark Nifty. The share price has risen 65.96% on a 12-month basis.

Seven out of the 13 analysts tracking the company have a 'buy' rating on the stock, four recommend a 'hold,' and two suggest a 'sell,' according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 27.9%.