Alembic Pharma rallies after Q1 PAT soars 144%

Alembic Pharmaceuticals rose 2.04% to Rs 1015 after the company reported a 144% surge in consolidated net profit to Rs 301.46 crore on 41.3% rise in revenue from operations to Rs 1341.32 crore in Q1 June 2020 over Q1 June 2019.

Profit before tax stood at Rs 359.8 crore in Q1FY21, soaring 132% from Rs 155 crore in Q1FY20. Current tax expense rose 73.91% year on year to Rs 67.11 crore in Q1FY20.

EBITDA soared 108% to Rs 416 crore in Q1FY21 from Rs 200 crore in Q1FY20. EBITDA margin improved to 31% in Q1FY21 from 21% in Q1FY20.

The company's international formulations grew 70% year on year (YoY) to Rs 771 crores in Q1 June 2020. The US Generics grew 73% YoY to Rs 596 crores in Q1 June 2020. The company's India formulations business for the quarter ending 30 June 2020 de-grew by 6% to Rs 306 crore.

The company R&D spend in Q1 June 2020 stood at Rs 141 crore, up 2% from Q1 June 2019. The company said it received 6 ANDA approvals in Q1FY21 while it filed 8 ANDAs in same quarter.

Commenting on company's performance, Pranav Amin, managing director, Alembic Pharmaceuticals said, "It was an excellent quarter for the company backed by growth in all the international markets. Despite exceptionally, challenging circumstances, the operating teams ensured profitability and growth."

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

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