Alembic reports a 37 per cent hike in net profits

Alembic Pharmaceuticals announced its consolidated financial results for the quarter ending June 30, 2019. The company’s net profit rose by 37 per cent in Q1FY20, amounting to Rs 124 cr from Rs 90 cr in the same period previous fiscal.

The EBITDA stood at Rs 233 cr, a growth of 54 per cent YoY compared to Rs155cr over the corresponding quarter of the previous year.

The company reported that its net sales shot up by 10 per cent at Rs 949 cr in Q1 while profit before exceptional items and tax rose up 58 per cent to Rs192 cr.

Pranav Amin, Managing Director, Alembic Pharmaceuticals said "It was a good quarter for the company backed by exceptional growth in the US market. Our Oncology Manufacturing Facility was inspected by the US FDA with no observations."

India formulations business for the quarter also rose to Rs 324 cr against Rs 331 cr for the last quarter, the company said in the press note.

Also, the company’s international formulations grew by 29 per cent to Rs 453 cr in the quarter and US Generics rose by 53 per cent to Rs 345 cr in the quarter.

By EP News Bureau

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