Alembic Pharma Q2 PAT rises 35% YoY to Rs 333 cr

The drug maker reported 35.4% increase in consolidated net profit to Rs 333.37 crore on 17.4% rise in net sales to Rs 1457.1 crore in Q2 September 2020 over Q2 September 2019.

Consolidated profit before tax (PBT) stood at Rs 398.39 crore in Q2 September 2020, rising 31.5% from Rs 302.85 crore in Q2 September 2019. Current tax expense grew by 15% to Rs 73.93 crore in Q2 September 2020 over Q2 September 2019.

EBITDA jumped 33% to Rs 455 crore in Q2 September 2020 from Rs 342 crore in Q2 September 2019. EBITDA margin improved to 31% in Q2 September 2020 from 28% in Q2 September 2019.

The company's international formulations grew 21% year on year (YoY) to Rs 779 crore in Q2 September 2020. The US generics grew 8% YoY to Rs 582 crore in Q2 September 2020. The company's India formulations business for the quarter ending 30 September 2020 grew by 6% to Rs 415 crore. Alembic's API segment grew by 29% YoY to Rs 263 crore in Q2 September 2020.

The company R&D spend in Q2 September 2020 stood at Rs 185 crore, up 6% from Q2 September 2019. The company said it received 6 ANDA approvals in Q2 September 2020 and made 7 filings during the quarter.

Commenting on the company's Q2 performance, Pranav Amin, MD of Alembic Pharmaceuticals said, "It was a strong quarter for the company led by growth in the domestic business. The International as well as API Business also continued to perform well.

Shares of Alembic Pharmaceuticals were down 1.71% at Rs 994.3 on BSE. The counter has gained 8.59% in last one month compared with 0.4% decline in Nifty Pharma index.

Alembic Pharmaceuticals is a vertically integrated research and development pharmaceutical company.

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