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.