 "Alembic Pharma gains on strong Q3 results")
Alembic Pharmaceuticals has surged 7% to Rs 631 on the BSE after the company reported nearly four-fold jump in consolidated net profit at Rs 269 crore for the quarter ended December 2015 (Q3FY16) on back of strong growth in international business. The drug maker had profit of Rs 71 crore in the same quarter year ago.
Revenues during the quarter under review grew 81% to Rs 931 crore against Rs 515 crore in the corresponding quarter of previous fiscal.
Alembic Pharma said that the US business continues to outperform on the back of Aripiprazole generic launch.
Earnings before interest, tax, depreciation and amortization (EBIDTA) margins stood at 41% in Q3YFY16 against 20% in Q3FY15, it added.
At 02:33 p.m. the stock was up 5% at Rs 618 on the BSE as compared to 0.32% decline in the S&P BSE Sensex. The trading volumes on counter jumped more than five-fold with a combined 450,872 shares changed hand on the NSE and BSE.
Revenues during the quarter under review grew 81% to Rs 931 crore against Rs 515 crore in the corresponding quarter of previous fiscal.
Alembic Pharma said that the US business continues to outperform on the back of Aripiprazole generic launch.
Earnings before interest, tax, depreciation and amortization (EBIDTA) margins stood at 41% in Q3YFY16 against 20% in Q3FY15, it added.
At 02:33 p.m. the stock was up 5% at Rs 618 on the BSE as compared to 0.32% decline in the S&P BSE Sensex. The trading volumes on counter jumped more than five-fold with a combined 450,872 shares changed hand on the NSE and BSE.
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