Glenmark Pharma Q2 net profit falls 50% at Rs 55.8 cr

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Glenmark Pharma Q2 net profit falls 50% at Rs 55.8 cr

Glenmark Pharma has reported a consolidated net profit of Rs 55.8 crore in the second quarter of FY12, a fall of 50% as compared to Rs 111.6 crore in the corresponding quarter of last fiscal. The fall was due to exceptional loss of Rs 132 crore during the quarter.

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Glenmark Pharma has reported a consolidated net profit of Rs 55.8 crore in the second quarter of FY12, a fall of 50% as compared to Rs 111.6 crore in the corresponding quarter of last fiscal. The fall was due to exceptional loss of Rs 132 crore during the quarter.

Exceptional loss reported by the company was due to exercising put option to Paul Capital.

Consolidated revenues jumped 42.2% to Rs 1,055 crore from Rs 742 crore during the same period.