Glenmark Pharma Q2 Results: Net profit plunges 56% to Rs 264 crore, revenue down at Rs 4,247 cr

What happened: Glenmark Pharmaceuticals reported a 56 percent fall in consolidated net profit for the second quarter, with revenue also declining from a year ago. Key numbers: Net profit Rs 264 crore versus Rs 610.43 crore a year ago. Revenue Rs 4,247.32 crore versus Rs 6,046.87 crore. Total expenses Rs 3,627.70 crore versus Rs 3,894.98 crore. Why it matters: The profit drop came alongside lower revenue and reduced total expenses, and the US subsidiary recorded a USD 15 million settlement in the quarter. Shares ended the session lower.

Glenmark Pharmaceuticals reported a 56 percent fall in consolidated net profit for the second quarter, with revenue also declining from a year ago.

The profit drop came alongside lower revenue and reduced total expenses, and the US subsidiary recorded a USD 15 million settlement in the quarter. Shares ended the session lower.