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Glenmark Pharmaceuticals dropped the most in over 3 months. The stock fell nearly 5 per cent to Rs 505.5, its lowest since May 22.
The stock posted its biggest intraday percentage loss since February 9. More than 1.9 million shares traded, versus their 30-day moving average of 704,082.
Glenmark Pharmaceuticals had on Tuesday reported a consolidated net profit of Rs151.62 crore for the fourth quarter ended March 31, 2018. The company had posted a net profit of Rs183.76 crore in the same period of the previous fiscal.
Revenues stood at Rs 2,279.81 crore for the fourth quarter ended March 31, 2018 against Rs 2,457.18 crore in January-March period of 2016-17, Glenmark had said in a regulatory filing.
“2018 was a challenging year mainly on account of pricing pressure in the US,’’ Glenmark had said in a statement.
The stock has fallen nearly 11 per cent this year up to Tuesday's close.
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