Companies

Alembic Pharma Q3 standalone net up 19% at ₹277 crore

Our Bureau Ahmedabad | Updated on January 19, 2021

Formulations business grows 3% in international markets, 14% in domestic market

Pharma player Alembic Pharmaceuticals Limited on Tuesday posted standalone net profit at ₹277 crore for the quarter ended December 31, 2020, which is about 19 per cent higher than ₹233 crore reported in the corresponding quarter last year.

The company’s standalone revenues from operations stood at ₹1,236 crore for the quarter as against ₹1,052 crore in the same period last year.

On a consolidated basis, the company posted net profit of ₹293 crore for the quarter ended December 2020, which is about 25 per cent higher than ₹234 crore reported in the corresponding quarter last year.

Consolidated revenues from operations was reported at ₹1,314 crore, up from ₹1209 crore recorded in the same period last year.

‘A good quarter’

Pranav Amin, Managing Director, Alembic Pharmaceuticals, said: “It was another good quarter for the company led by strong growth in the India formulation business. The API Business continued to perform well in current quarter.”

The company said in a statement that its international formulations business grew by 3 per cent to ₹683 crore during the quarter and 27 per cent to ₹2,233 crore for the nine-month ended December 2020.

Ex-US International Formulations business grew by 14 per cent to ₹171 crore in the quarter and 49 per cent to ₹544 crore for April-December 2020.

India formulations business grew 14 per cent to ₹418 crore in the quarter and 5 per cent to ₹1,138 crore for the nine-month period.

The company’s specialty segments grew by 16 per cent for the quarter led by Cardio, Diabeto, Gyanaec and Gastro Segments, it said, adding that the API business reported a growth of 21 per cent to ₹214 crore during the quarter and 34 per cent to ₹741 crore for the nine-month period.

Alembic Pharmaceuticals shares traded nearly flat with marginal decline at ₹1,063 on Tuesday, down 0.6 per cent over previous close on BSE.

Published on January 19, 2021

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