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Glenmark Q3 net profit rises 64 pc to Rs 190.83 cr; to raise USD 400 mn

New Delhi, Feb 14 () Drug firm Glenmark Pharmaceuticals on Friday reported a 64.02 per cent jump in its consolidated net profit to Rs 190.83 crore for the quarter ended December 31, 2019, mainly on account of robust sales in the Indian market. Its board also approved raising of funds up to USD 400 million (over Rs 2,855 crore) through issuance of securities. The company had posted a net profit of Rs 116.34 crore in the corresponding period of the previous financial year, Glenmark Pharmaceuticals said in a filing to the BSE. The firm’s board has approved the “raising of funds up to USD 400 million by either by issuance of bonds / debentures / non-convertible debt instruments or any other securities or any combination thereof, of any of the above, for refinancing of bonds/FCCBs/loans…,” Glenmark

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