Glenmark Pharmaceuticals posts ₹301.4cr quarterly net profit, revenue up 16%
Business
Glenmark Pharmaceuticals just pulled off a huge win: its net profit for the last quarter shot up to ₹301.4 crore, a massive leap from only ₹4.6 crore last year.
This boost came thanks to stronger operations and higher sales, with revenue growing nearly 16% year-over-year.
Glenmark EBITDA ₹762.5cr, proposes 250% dividend
EBITDA also jumped 36%, hitting ₹762.5 crore, and margins improved to 20.2%.
The board is proposing a generous 250% dividend (₹2.5 per share), pending approval at the AGM.
Interestingly, even with these impressive numbers and the big dividend news, Glenmark's stock dropped by 4.55% on May 29 (sometimes the market just does its own thing!)