Glenmark Pharmaceuticals Q2 results 2024 on 16 Nov, 2024: profit at ₹354.21Cr, Revenue increased by 7.06% YoY

Glenmark Pharmaceuticals Q2 Results 2024:Glenmark Pharmaceuticals declared its Q2 results on 14 Nov, 2024, reporting a significant turnaround with a profit of ₹354.21 crore. This is a remarkable recovery from the loss of ₹81.95 crore recorded in the same period last fiscal year. Additionally, the company's topline increased by 7.06% year-on-year.

In comparison to the previous quarter, Glenmark's revenue showed a growth of 5.84%. However, there was a rise in selling, general, and administrative expenses, which increased by 10.72% quarter-on-quarter and 7.33% year-on-year.

The operating income also reflected positive growth, up by 2.38% from the last quarter and an astonishing 10,588.55% year-on-year increase. The earnings per share (EPS) for Q2 stood at ₹12.55, showcasing a staggering rise of 3,170.53% year-on-year.

Despite recent challenges, Glenmark Pharmaceuticals has seen a 52.56% return over the last six months and a remarkable 79.6% year-to-date return. However, the stock has delivered a -7.46% return in the past week.

As of 16 Nov, 2024, Glenmark Pharmaceuticals has a market cap of ₹43,279.2 crore, with a 52-week high of ₹1,830.95 and a low of ₹746.55. Out of 10 analysts covering the company, 1 has given a Sell rating, 4 a Hold rating, 1 a Buy rating, and 4 a Strong Buy rating.

The consensus recommendation among analysts as of 16 Nov, 2024, is to Buy, indicating a positive outlook for Glenmark Pharmaceuticals moving forward.

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