Alembic Pharma Q1 PBT almost doubles to Rs 359 cr, income rises 40%

Company attributes the huge spike to a strong show in the international markets

Alembic Pharmaceuticals Limited (APL) has seen its consolidated profit before tax (PBT) grow by 91.40 per cent before exceptional items for the first quarter ended June 30, 2020 of financial year 2020-21. As against a consolidated PBT of Rs 187.82 crore in the corresponding Q1 in FY20, the same grew to Rs 359.50 crore in Q1 of FY21.

The company's consolidated total income rose by 40.89 per cent to stand at Rs 1,341.64 crore in Q1 of FY21 as compared to Rs 952.20 crore in Q1 of FY20. 

According to Pranav Amin, Managing Director, Alembic Pharmaceuticals Limited, despite challenging circumstances due to the Covid-19 pandemic and lockdown in the country, the company's operating teams ensured profitability and growth. "It was an excellent quarter for the company backed by growth in all the international markets," said Amin.

While its international formulations business grew by 70 per cent to Rs 771 crore in Q1 of FY21, its US generics business rose 73 per cent to Rs 596 crore in the said quarter. APL's ex-US international formulations business grew by 62 per cent to Rs 175 crore in the quarter. 

However, it was the company's domestic business that took a hit during the quarter. APL's India formulations business for the quarter de-grew by six per cent to stand at Rs 306 crore.

During the first quarter of current fiscal, Alembic Pharma received six abbreviated new drug applications (ANDA) approvals, thereby taking such cumulative approvals to 125 including 14 tentative. On its part, the company also filed eight ANDAs, taking its cumulative ANDA filings to 191.