Companies

Alkem Labs Q3 net profit up 90% to ₹390 cr

PTI New Delhi | Updated on February 07, 2020 Published on February 07, 2020

Drug firm Alkem Laboratories on Friday reported an 89.80 per cent rise in consolidated net profit a ₹389.96 crore for the quarter ended December.

The company had posted a net profit of ₹205.45 crore for the corresponding period of the previous fiscal, Alkem Laboratories said in a filing to the BSE.

Consolidated revenue from operations stood at ₹2,181.84 crore for the quarter under consideration as against ₹1,926.32 crore in the same period a year ago.

The company’s board has declared an interim dividend of ₹22 per equity share on the face value of ₹2 per share for the financial year 2019-20, Alkem Laboratories said.

In a separate filing, the company said its board has approved the re-appointment and increase in remuneration of Basudeo N Singh as executive chairman of the company for a period of five consecutive years with effect from April 1, 2020 up to March 31, 2025.

The board also approved the appointment of Narendra Kumar Aneja as an additional director of the company, it added.

Shares of Alkem Laboratories were trading at ₹2,536 per scrip on the BSE, up 5.74 per cent from its previous close.

Published on February 07, 2020

A letter from the Editor


Dear Readers,

The coronavirus crisis has changed the world completely in the last few months. All of us have been locked into our homes, economic activity has come to a near standstill. Everyone has been impacted.

Including your favourite business and financial newspaper. Our printing and distribution chains have been severely disrupted across the country, leaving readers without access to newspapers. Newspaper delivery agents have also been unable to service their customers because of multiple restrictions.

In these difficult times, we, at BusinessLine have been working continuously every day so that you are informed about all the developments – whether on the pandemic, on policy responses, or the impact on the world of business and finance. Our team has been working round the clock to keep track of developments so that you – the reader – gets accurate information and actionable insights so that you can protect your jobs, businesses, finances and investments.

We are trying our best to ensure the newspaper reaches your hands every day. We have also ensured that even if your paper is not delivered, you can access BusinessLine in the e-paper format – just as it appears in print. Our website and apps too, are updated every minute, so that you can access the information you want anywhere, anytime.

But all this comes at a heavy cost. As you are aware, the lockdowns have wiped out almost all our entire revenue stream. Sustaining our quality journalism has become extremely challenging. That we have managed so far is thanks to your support. I thank all our subscribers – print and digital – for your support.

I appeal to all or readers to help us navigate these challenging times and help sustain one of the truly independent and credible voices in the world of Indian journalism. Doing so is easy. You can help us enormously simply by subscribing to our digital or e-paper editions. We offer several affordable subscription plans for our website, which includes Portfolio, our investment advisory section that offers rich investment advice from our highly qualified, in-house Research Bureau, the only such team in the Indian newspaper industry.

A little help from you can make a huge difference to the cause of quality journalism!

Support Quality Journalism
This article is closed for comments.
Please Email the Editor
You have read 1 out of 3 free articles for this week. For full access, please subscribe and get unlimited access to all sections.