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.
Glenmark Pharmaceuticals Financials
| Period | Q2 | Q1 | Q-o-Q Growth | Q2 | Y-o-Y Growth |
|---|---|---|---|---|---|
| Total Revenue | 3433.8 | 3244.19 | +5.84% | 3207.38 | +7.06% |
| Selling/ General/ Admin Expenses Total | 786.56 | 710.44 | +10.72% | 732.88 | +7.33% |
| Depreciation/ Amortization | 120.28 | 117.79 | +2.11% | 141.45 | -14.97% |
| Total Operating Expense | 2952.16 | 2773.76 | +6.43% | 3211.97 | -8.09% |
| Operating Income | 481.63 | 470.42 | +2.38% | -4.59 | +10588.55% |
| Net Income Before Taxes | 472.57 | 462.33 | +2.21% | -124.35 | +480.02% |
| Net Income | 354.21 | 340.27 | +4.1% | -81.95 | +532.26% |
| Diluted Normalized EPS | 12.55 | 12.06 | +4.06% | 0.38 | +3170.53% |
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