Glenmark Pharmaceuticals declines on reporting sharp fall in profit

Glenmark Pharmaceuticals is currently trading at Rs 584.50, down by 8.90 points or 1.50 % from its previous closing of Rs. 593.40 on the BSE. The scrip opened at Rs 595.30 and has touched a high and low of Rs 596.80 and Rs 577.90 respectively. So far 54211 shares were traded on the counter. The BSE group 'A' stock of face value Rs 1 has touched a 52 week high of Rs 640.35 on 02-May-2014 and a 52 week low of Rs 489.10 on 27-Nov-2013. Last one week high and low of the scrip stood at Rs 640.35 and Rs 585.00 respectively. The current market cap of the company is Rs. 15828.98 crore. The promoters holding in the company stood at 48.28% while Institutions and Non-Institutions held 41.03% and 10.68% respectively. Glenmark Pharmaceuticals has reported results for fourth quarter and year ended March 31, 2014 The company has posted a rise of 78.61% in its net profit at Rs 151.66 crore for the quarter ended March 31, 2014 as compared to Rs 84.91 crore for the same quarter in the previous year. Total income of the company increased by 34.28% at Rs 687.25 crore for quarter under review as compared to Rs 511.79 crore for the quarter ended March 31, 2013. On consolidated basis, the company has reported 74.97% fall in its net profit at Rs 43.06 crore for the quarter ended March 31, 2014 as compared to Rs 172.08 crore for the same quarter in the previous year. However, total income of the company has increased by 27.09% at Rs 1691.48 crore for quarter under review as compared to Rs 1330.90 crore for the quarter ended March 31, 2013. For the year ended March 31, 2014, the company has posted a jump of 12.35% in its net profit at Rs 433.82 crore as compared to Rs 386.10 crore for the same period in the previous year. Total income of company improved by 14.64% at Rs 2368.03 crore for year under review as compared to Rs 2065.54 crore for the period ended March 31, 2013. For the year ended March 31, 2014, on the consolidated basis, the company has posted a fall of 12.54% in its net profit at Rs 542.27 crore as compared to Rs 620.03 crore for the same period in the previous year. However, total income of company has increased by 19.78% at Rs 6016.68 crore for year under review as compared to Rs 5023.08 crore in the previous fiscal.