Alembic Pharmaceuticals has rallied 7% to Rs 194 on BSE after reporting a strong 45% year on year (yoy) jump in consolidated net profit at Rs 62 crore for the second quarter ended September 2013 (Q2) on back of strong performance from international generic formulation business. The pharmaceutical company had profit of Rs 42 crore in the same quarter year ago.
Total revenue of the company during quarter under review grew 20% at Rs 488 crore on yoy basis.
International generic formulation posted growth of 123% and posted sales of Rs 114 crore against Rs 51 crore over the corresponding quarter last year, Alembic Pharma said in a statement.
EBITDA or operating margins for the quarter ended September 2013 stood at 19% from 15.9% in a year ago quarter, the company said.
During the quarter two abbreviated new drug applications (ANDAs) were filed taking the cumulative number of ANDA filings to 59. One ANDA approval was received during the quarter.
The stock opened at Rs 182 and hit a new high of Rs 197 on BSE. A combined 660,000 shares have changed hands on the counter till 1040 hours on BSE and NSE.
Total revenue of the company during quarter under review grew 20% at Rs 488 crore on yoy basis.
International generic formulation posted growth of 123% and posted sales of Rs 114 crore against Rs 51 crore over the corresponding quarter last year, Alembic Pharma said in a statement.
EBITDA or operating margins for the quarter ended September 2013 stood at 19% from 15.9% in a year ago quarter, the company said.
During the quarter two abbreviated new drug applications (ANDAs) were filed taking the cumulative number of ANDA filings to 59. One ANDA approval was received during the quarter.
The stock opened at Rs 182 and hit a new high of Rs 197 on BSE. A combined 660,000 shares have changed hands on the counter till 1040 hours on BSE and NSE.
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