Glenmark Pharma's first quarter profit is seen rising 13 percent to Rs 257 crore and revenue may grow 17.5 percent to Rs 2,284 crore compared with year-ago quarter, according to average of estimates of analysts polled by CNBC-TV18.
Operating profit is expected to jump 22 percent year-on-year to Rs 462 crore and margin may expand 50 basis points to 20 percent in Q1.
Revenue growth is expected to be led by US business. Within US, street is factoring in a better performance from cholesterol drug Zetia generic that was launched in December with exclusivity; ended in June.
Zetia generic is expected to contribute USD 50 million in revenue and USD 35 million to profit. However, management scaled down estimates last quarter on Zetia generic sales.
US sales are likely to be at USD 164 million while domestic formulation is likely to be sluggish due to GST implementation.
Latin America sales are expected to decline to upto 25-30 percent on back of no sales from Venezuela.
Guidance for FY18
The company expects 10-12 percent growth in topline, EBITDA margin to sustain at 23 percent and R&D expense to be around 12 percent of revenue.
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