Glenmark Pharma jumps 5% post December quarter earnings

The company reported a 21 per cent surge in Q3 consolidated net at Rs 291 crore.

Shares of Glenmark Pharma surged over 5 per cent to a high of Rs 421 in an otherwise sluggish market, after the drug maker reported steady earnings for the quarter ended December 2022.

Glenmark reported a 21.1 per cent jump in Q3FY22 consolidated net to Rs 290.76 crore as against Rs 240 crore in the corresponding quarter a year ago. Net sales grew by 8 per cent YoY to Rs 3,392.24 crore.

During the third quarter, revenues from the Asia, MEA, LATAM and RCIS (RoW) region were Rs 654.1 crore as against Rs 534.8 crore for the previous corresponding quarter. Sales from