Shares in Glenmark Pharmaceuticals jumped by almost 2 per cent to Rs 528 after consolidated net profits of the company were better then expected for Q4 2013 results.
The net profit of the company rose to 10.9 per cent to Rs 166.79 crore on 25.3 growth in revenue to Rs 1335.48 crore in Q4 March 2013 over Q4 March 2012.
The Board of Directors recommend a final dividend of 200% i.e. Rs. 2 per equity share of the face value of Re. 1 each.
Glenmark is a leading player in the discovery of new molecules both NCEs (new chemical entity) and NBEs (new biological entity) with five molecules in various stages of clinical development. The company has a significant presence in branded generics markets across emerging economies including India. Its subsidiary, Glenmark Generics Limited has a fast growing and robust US generics business. The subsidiary also markets APIs to regulated and semi-regulated countries.
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