Glenmark Pharma Q3 PAT may dip 23% at Rs 164cr: ICICIdirect

ICICIDirect has come out with its October-December quarter earnings estimates for the healthcare sector. The brokerage house expects Glenmark Pharma to report a 6.3 percent increase quarter-on-quarter (down 23 percent Y-o-Y) in net profit at Rs 164 crore.

Revenues of the company are expected to rise by 4.2 percent Q-o-Q (up 10.4 percent Y-o-Y) to Rs 1,525.4 crore, according to ICICIdirect.com.

ICICIdirect on Glenmark Pharma:

Revenues are likely to grow by 10 percent YoY on a higher base. Adjusting one time licensing income in Q3FY13, the growth would be 15 percent, driven by 25 percent growth in the US and 20 percent growth in the domestic formulations. EBITDA margins are likely to decline by 260 bps YoY to 21 percent on a higher base.

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