Alembic Pharma skids after Q1 PAT falls 45% to Rs 165 cr

Alembic Pharmaceuticals declined 3.79% to Rs 910.75 after the drug maker's consolidated net profit dropped 45.42% to Rs 164.52 crore on a 1.13% fall in revenue from operations to Rs 1,326.03 crore in Q1 June 2021 over Q1 June 2020.

Consolidated profit before tax tanked 49.22% to Rs 182.55 crore in Q1 FY22 as against Rs 359.50 crore in Q1 FY21. The Q1 earnings was declared during trading hours today, 26 July 2021.

India Branded Business for the quarter soared 57% Y-o-Y to Rs 481 crore. The acute segment as well as the specialty segment grew faster than the represented pharmaceutical market.

Overseas, US Generics tumbled 38% Y-o-Y (year-on-year) to Rs 369 crore while Ex-US International Formulations grew 13% Y-o-Y to Rs 197 crore in the quarter. The company obtained 7 Abbreviated New Drug Applications (ANDAs) approvals during the quarter with a cumulative ANDA approval of 146 (including 18 tentative) and 3 ANDA filings during the quarter with cumulative ANDA filings at 212.

Active Pharmaceutical Ingredients (API) business rose 6% Y-o-Y to Rs 279 crore with 1 Drug Master Files (DMF) during in the quarter. Cumulative DMF fillings stood at 118.

Consolidated EBITDA (post R&D) skid 39% to Rs 254 crore in Q1 FY22 as against Rs 416 crore in Q1 FY21. EBITDA margin (post R&D) was at 19% during the quarter as compared to 31% during Q1 June 2020.

Commenting on the same, Pranav Amin, managing director of Alembic Pharmaceuticals, said: "The India business grew exceptionally well and outpaced the Industry, we hope to see this momentum continuing due to the initiatives undertaken recently. The US business faced price erosion due to increased competition. However, our long term view of the US market remains intact."

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

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