Glenmark Q3 profit seen down 15.2% to Rs 181.5 cr: Poll

Glenmark Pharma's third quarter profit after tax is expected to fall 15.2 percent year-on-year to Rs 181.5 crore, according to a CNBC-TV18 poll.

Revenue is seen rising 9 percent to Rs 1,745 crore during October-December quarter from Rs 1,602 crore in same quarter last fiscal. However, operating profit may fall 9.3 percent on yearly basis to Rs 331 crore and margin may decline 380 basis points to 19 percent during the quarter due to over all slowdown in sales.

Russia & Venenzuela business-Russia business is included in Rest of the World (RoW) segment-RoW is Africa, Asia and CIS-Analysts expect RoW to decline 25 percent Y-o-Y-In Q2FY15, RoW revenue was flat Y-o-Y & down 17.6 percent Q-o-Q at Rs 174 crore-In Q2, RoW markets were flat on account of currency fluctuation in Russia and Ukraine-RoW as of Q2 was around 10 percent of total sales-Analysts have reduced estimates for RoW in FY15E-Earlier estimate was a growth of 24-25 percent Y-o-Y, now that scaled down to a growth of 17-18 percent

Latin America is expected to compensate growth in topline-Latin America was up 139 percent Y-o-Y in Q2 to Rs 230.9 crore-Company saw 200 percent growth in Mexico, 300 percent growth in Venezuela

US business is expected to be slow during the quarter as well due to no significant launches-Estimates of around USD 85 million in US sales in Q3 against USD 83.76 million in Q2-In Q2, US sales were up only 2.5 percent Q-o-Q

India growth may be around 20 percent led by market share in derma, cardio and anti diabetic therapies-India was up 14.5 percent in Q2 against 21 percent growth in Q1

EU branded generic growth may continue being steady-In Q2, Europe was up 25.06 percent to Rs 130.553 crore Y-o-Y, in line with estimates of growth of 25-30 percent