Glenmark Pharmaceutical, a manufacturer of generic formulation products and API, fell on Friday after it reported a drop in consolidated net profit for the quarter ended March 2014.
During the quarter, the profit of the company declined 74.97% to Rs 430.66 million from Rs 1720.89 million in the same quarter last year.
Net sales for the quarter rose 27.53% to Rs 17,035.59 million, compared with Rs 13,358.61 million for the prior year period.
Shares of the company are trading at Rs 581.50, down Rs 11.9, or 2.01% at the Bombay Stock Exchange (BSE) on Friday at 11:18 a.m.
The scrip has touched an intra-day high of Rs 596.80 and low of Rs 577.90. The total volume of shares traded at the BSE is 43,966.
In the earlier session, the shares lost 1.76%, or Rs 10.65, at Rs 593.40. Currently, the stock is trading down 9.19% from its 52-week high of Rs 640.35 and above 18.89% over the 52-week low of Rs 489.10.