Announcements

Alembic Pharma Q1 profit more than doubles to ₹301.46 crore

PTI New Delhi | Updated on July 22, 2020

Robust sales in international markets drive profits

Drug firm Alembic Pharmaceuticals on Wednesday reported more than two-fold jump in consolidated net profit to ₹301.46 crore for the quarter ended on June 30, 2020, mainly on account of robust sales in international markets.

The company had posted a net profit of ₹123.72 crore for the corresponding period of the previous fiscal, Alembic Pharmaceuticals said in a filing to BSE.

Consolidated revenue from operations of the company stood at ₹1,341.32 crore for the period under consideration against ₹948.91 crore for the same period year ago, it added.

“It was an excellent quarter for the company backed by growth in all the international markets. Despite exceptionally, challenging circumstances, the operating teams ensured profitability and growth,” said Alembic Pharmaceuticals MD Pranav Amin.

International formulations revenue grew 70 per cent to ₹771 crore in the quarter, the company said.

Shares of Alembic Pharmaceuticals were trading at ₹1,010.15 on BSE, up 1.55 per cent from the previous close.

Published on July 22, 2020

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