Glenmark Pharma hits 52-week low on subdued Q4 results

The stock hit a fresh 52-week low of Rs 484, slipped 9% on the BSE in early morning trade, after the company reported 17% decline in its consolidated net profit at Rs 1.52 billion in March quarter.

Shares of Glenmark Pharmaceuticals hit a fresh 52-week low of Rs 484 per share, slipping 9% on the BSE in early morning trade, after the company reported a decline of 17% in its consolidated net profit at Rs 1.52 billion for the quarter ended March 2018 (Q4FY18), on account of de-growth in US business. The drug company had profit of Rs 1.84 billion in the same quarter last fiscal.

On the National Stock Exchange (NSE), the stock was down 5% to Rs 506 in intra-day trade.

The company’s consolidated revenue during the quarter under review decreased by 7%