Alembic Pharma Q3 PAT rises 25% YoY

The drug maker reported 25% jump in consolidated net profit to Rs 293 crore on a 9% rise in net sales to Rs 1314 crore in Q3 FY21 over Q3 FY20.

The company's international formulations business grew 3% year-on-year (YoY) to Rs 683 crore while the ex-US international formulations business grew 14% YoY to Rs 171 crores in the quarter. The firm received 8 ANDA approvals received during the quarter taking the cumulative to 137 ANDA approvals.

During Q3 FY21, Alembic's India formulations business grew 14% YoY to Rs 418 crore with specialty segments growing by 16%, led by cardio, diabeto, gyanaec and gastro segments.

API business grew 21 %to Rs 214 crores in Q3 December 2020 over Q3 December 2019. The company filed 4 drug master files (DMF) taking the cumulative to 115 DMFs.

Profit before tax in Q3 FY21 stood at Rs 318.33 crore, up by 15.22% from Rs 276.28 crore in Q3 FY20. Current tax expense during the quarter increased by 5.03% YoY to Rs 57.22 crore.

Pranav Amin, managing director, Alembic Pharmaceuticals, said "It was another good quarter for the company led by strong growth in the India formulation business. The API Business continued to perform well in current quarter."

Alembic Pharmaceuticals is a vertically integrated research and development pharmaceutical company. It manufactures and markets generic pharmaceutical products all over the world.

The scrip fell 3.18% to trade at Rs 1036.05 on the BSE. It traded in the range of 1036 and 1090.75 so far during the day.

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