Alembic Q3 net up 37% to Rs 65 cr

Net sales for the quarter up 31% on a year-on-year basis at Rs 487 cr

Vadodara-based Alembic Pharmaceuticals has posted a 37 per cent rise in net profit for the quarter ended December 31, 2013 to Rs  65.93 crore compared to Rs  48.27 crore in the corresponding quarter a year before mainly on the back of a robust growth in its international generic formulations business.

Net sales for the quarter is up 31 per cent on a year-on-year basis at Rs  487 crore against Rs  372 crores in corresponding quarter last year.

The company said in a statement that the international generic formulations sales was up 112 per cent for the quarter at Rs  130 crore against Rs  61 crore in corresponding quarter last year.  India Branded formulations sales was up 15 per cent for the quarter at Rs  230 crore against Rs  200 crore in corresponding quarter last year.

For the year-till-date (YTD) period, net sales is up 22 per cent as on December 2013 at Rs  1403 crores against Rs  1148 crores for corresponding period last year.  

The profit before tax is up 52 per cent for YTD  at Rs  229.8 crores against Rs  151.2 crores for corresponding period last year.

During the quarter, the company filed one abbreviated new drug application (ANDA) taking cumulative ANDA filings of the Company to 60. One  ANDA approval was received during the quarter. Cumulative ANDA approvals now stand at 31 (including 4 tentative approvals).

During the quarter two drug master file (DMF) applications were filed taking cumulative DMF filings of the Company to 64.