Comments
Alembic Pharmaceuticals Limited recorded standalone net profit of ₹146 crore for the quarter ended September 30, 2022 against ₹143 crore in the same quarter last year, indicating a 2 per cent growth year-on-year.
The company’s revenues from operations stood at ₹1,354 crore against ₹1,202 crore in the same quarter last year. Total expenses increased to ₹1,188 crore, up 14 per cent against ₹1,044 crore in the same quarter last year.
On consolidated basis, net profit for the quarter jumped nearly 100 per cent to ₹133 crore (₹67 crore). Consolidated revenues from operations stood at ₹1,475 crore (₹1,292 crore).
Pranav Amin, Managing Director, Alembic Pharmaceuticals Limited, said: “It was a satisfactory quarter led by growth in all the verticals of the company, in particular the API business outperformed with a 23 per cent growth during the quarter.”
The API business grew 23 per cent year-on-year to ₹294 crore in the quarter.
Company’s India formulations business grew 11 per cent (excluding one-time non-recurring sales of Amphotericin- B) to ₹549 crore in the quarter. The growth is attributed to the exceptionally high market growth in the second quarter last year. Alembic clocked a large out-performance vs market, a company statement said.
US Generics business grew 20 per cent to ₹418 crore , while the ex-US international formulations grew 9 per cent to ₹215 crore.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.