Daijiworld Media Network – Mumbai

Mumbai, Sep 28: Glenmark Pharmaceuticals Ltd is the only stock scheduled to trade ex-dividend this week, with an interim dividend of Rs 2.5 per share payable on October 3.

Investors must note India’s T+1 settlement cycle, which means shares bought on the record date itself will not qualify for dividend payout. Since the record date is October 3, investors need to purchase shares by October 1, as October 2 is a market holiday on account of Gandhi Jayanti.

The ex-dividend date, which usually coincides with the record date, is when the share price adjusts to reflect the upcoming payout. Shareholders planning to receive the dividend should ensure their purchases are completed before the ex-dividend date.
Q1 Financial Performance:

Glenmark Pharmaceuticals reported a sharp 86% decline in consolidated net profit for the first quarter of the current fiscal year. The company posted a profit of Rs 46.8 crore, compared to Rs 340.2 crore in the same quarter last year.

The decline comes despite a one-time gain of Rs 323 crore in the June quarter, highlighting challenges in the company’s operational performance.

Investors and market watchers will closely track Glenmark’s performance and dividend activity in the coming days.