Alembic Ltd posts Q4 net profit of Rs 55.47 cr

Alembic Ltd on Monday reported a consolidated net profit ofRs 55.47 crore for the quarter ended March 31.

The company had posted a net profit of Rs 3.98 crore for the same period previous fiscal, Alembic Ltd said in a filing to BSE.

Consolidated total income of the company stood at Rs 68.76 crore for the quarter under consideration. It was Rs 27.66 crore for the same period a year ago, it added.

The composite scheme of arrangement involving inter alia the transfer and vesting of the identified real estate undertaking of Alembic Limited into Shreno Ltd with effect from November 1, 2018 became effective on August 8, 2019, the filing said.

"Consequent to the demerger of the identified undertaking of the company, the financial results of the company for the quarter and year ended March 31, 2020 are not comparable with the results of the previous periods," it added.

For the financial year ended March this year, the net profit of the company stood at Rs 93.03 crore. It was Rs 43.46 crore for the previous fiscal year, Alembic Ltd said.

Total income of the company stood at Rs 167.33 crore in FY20. It was Rs 157.16 crore for the year ago fiscal, it added.

The company's board has recommended dividend of Rs 0.60 per equity share having face value of Rs 2 each for financial year 2020, the filing said.