Consolidated revenues of the drug firm, however, rose to Rs 3,019 crore in the quarter under review as compared to Rs 2,860 crore in the year-ago period, recording an increase of 6 per cent year-on-year.
Glenmark Pharmaceuticals Limited on Saturday reported a net consolidated profit of Rs 172.6 crore for the quarter ended March 2022 as compared to Rs 234 crore recorded in the corresponding period of the last year, registering a decline of 26 per cent.
Bank of America (BofA) Securities has reinstated coverage on certain active pharmaceutical companies and contract development and manufacturing companies in the Indian pharma industry.
Five such companies which have firmed up their initial public offering (IPO) plans are Glenmark Lifesciences, a fully-owned arm of Glenmark Pharmaceuticals, the city-based bulk drugs firm Supriya Lifesciences, drug formulations firm Windlass Biotech, Bain Capital-backed Emcure Pharma and CX Partners-funded Veeda Clinical Research. According to investment-bankers, they are planning to mop up over Rs 7,000 crore in primary share sales.