Alembic Pharmaceuticals Ltd posted standalone net profit of Rs 137.8 crore for the quarter ended December 2016, down by over 50 per cent from Rs 278.9 crore in the corresponding quarter last year.
The company's total income stood at Rs 804.7 crore for the quarter as against Rs 906.85 crore in the same quarter last year.
The consolidated profit for the quarter stood at Rs 86.5 crore as against Rs 268.8 crore in the corresponding quarter last year. The total consolidated income stood at Rs 777.03 crore for the quarter as against Rs 930.89 crore in the same quarter last year.
Pranav Amin, MD, Alembic Pharma stated, "Our base business in the US market is doing well. We will continue to invest in R&D for the future growth and have spent Rs 117 crore in the quarter, which is approximately 15 per cent of the revenue on R&D, this is higher from RS 70 crore last year."
Alembic Pharma shares surged by 2.25 per cent on Wednesday to close at Rs 598 on the NSE.