Alembic Pharma Q1 net profit jumps over two-folds to Rs 301.46 crore

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

Drug firm Alembic Pharmaceuticals on Wednesday reported more than two-fold jump in consolidated net profit to Rs 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 Rs 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 Rs 1,341.32 crore for the period under consideration against Rs 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," Alembic Pharmaceuticals MD Pranav Amin said.

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

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