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Home STOCKS Glenmark Pharma Q4 effects: Net profit jumps 36% to Rs 220 crore

Glenmark Pharma Q4 effects: Net profit jumps 36% to Rs 220 crore

New Delhi: Glenmark Pharmaceuticals on Friday posted a 36.28 for each cent raise in its consolidated net profit to Rs 220.3 crore for the fourth quarter ended March 31, 2020.
The Mumbai-based mostly drug agency had claimed a net profit of Rs 161.66 crore for the corresponding period of 2018-19.
The company’s consolidated revenue for the quarter rose 7.96 for every cent to Rs 2,767.48 crore as in opposition to Rs 2,563.47 crore a 12 months ago, Glenmark Pharmaceuticals said in a regulatory filing.
For the economical yr 2019-20, the firm described a consolidated net profit of Rs 775.97 crore as versus Rs 924.99 crore in 2018-19.
The firm’s consolidated revenue for 2019-20 rose to Rs 10,640.96 crore as in opposition to Rs 98,65.46 crore recording more than the earlier corresponding time period.
“Our advancement momentum sustained in the fourth quarter even with the COVID-19 pandemic and challenging generic small business natural environment across markets globally,” Glenmark Prescription drugs Chairman and MD Glenn Saldanha stated.
The firm’s India, Europe and Latin The usa locations executed very well throughout the quarter, he included.
“Our sustained overall performance has been due to the continual efforts of all our employees around the earth. Our producing facilities have operated repeatedly and facilitated the uninterrupted supply of medications to working markets,” Saldanha claimed.
Its board advised a dividend of Rs 2.5 for each share of a face value of Re 1 every single (250 per cent) for the financial calendar year 2019-20.

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