Stocks

Glenmark slumps as Q4 profit misses estimates

Reuters | Updated on January 11, 2018 Published on May 12, 2017

glenmark

Glenmark Pharma slumped as Q4 profit misses estimates.

Shares of Glenmark Pharmaceuticals fell as much as 16.3 per cent in early trade.

The company has posted a consolidated Q4 profit of Rs 184 crore ($28.62 million), missing analysts' estimates of Rs 593 crore, as sales across Europe and Latin America fell.

The stock hit its lowest since June 24, 2016.

The shares posted biggest percentage intraday fall since August 19, 2009.

Published on May 12, 2017
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