Companies

Alembic Pharma Q1 standalone net down 40%

Our Bureau Ahmedabad | Updated on July 26, 2021

Pranav Amin, Managing Director

US sales drop 38%; India branded, non-US generics business post strong growth

Alembic Pharmaceuticals Limited on Monday posted standalone net profit of ₹193 crore for the quarter ended June 30, 40 per cent down from ₹319 crore reported in the corresponding quarter a year ago.

The company's standalone revenue from operations stood at ₹1,270 crore for the quarter against ₹1,258 crore in the same period last year.

On a consolidated basis, the company posted net profit of ₹165 crore against ₹301 crore in the corresponding quarter a year ago, a 45 per cent dip on a year-on-year basis. Consolidated revenue from operations stood at ₹1,326 crore (₹1,341 crore).

India branded formulations business posted strong growth at ₹481 crore, 57 per cent higher than the same quarter last year. Non-US generics business too grew 13 per cent to ₹197 crore, while the US generics business fell 38 per cent to ₹369 crore during the quarter.

Pranav Amin, Managing Director, Alembic Pharmaceuticals Limited, said, “The India business grew exceptionally well and outpaced the industry, we hope to see this momentum continuing due to the initiatives undertaken recently. The US business faced price erosion due to increased competition. However, our long term view of the US market remains intact.”

During the quarter, the company's R&D spend at the consolidated level, increased to ₹167 crore, up 17 per cent over the comparable quarter last year.

Consolidated EBITDA for the quarter stood at ₹254 crore, a 39 per cent dip against ₹416 crore in the same quarter last year.

Alembic Pharma shares ended at ₹910.75 on Monday, down 4 per cent against the previous close on the BSE.

Published on July 26, 2021

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