Glenmark Life Sciences Reports Negative Performance in Q2 FY25
Glenmark Life Sciences, a midcap pharmaceutical company, recently announced its financial results for the quarter ending September 2024. The company’s stock has been given a ‘Hold’ call by MarketsMOJO.
According to the financial report, Glenmark Life has seen a negative performance in the quarter, with a score of -12 compared to -5 in the previous quarter. This decline can be attributed to various factors, including a decrease in net sales, profit before tax, and profit after tax.
The company’s net sales for the quarter were at Rs 506.88 crore, which is a decrease of 11.6% compared to the average net sales of the previous four quarters. This indicates a negative trend in sales in the near term. Similarly, the profit before tax and profit after tax have also seen a decline of 18.5% and 14.7% respectively, compared to the average of the previous four quarters.
In addition, the company’s operating profit and earnings per share have also seen a decline, with the lowest figures in the last five quarters. This indicates a decline in profitability and lower earnings for shareholders. However, the company’s non-operating income has seen an increase, which may not be sustainable in the long term.
Overall, the financial results for the quarter ending September 2024 have not been positive for Glenmark Life Sciences. Investors are advised to hold their stock and monitor the company’s performance in the coming quarters.
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