Alembic Pharma Q1 net dips 36 pc at Rs 66 cr

Drug firm Alembic Pharmaceuticals today reported a 35.73 per cent dip in its consolidated net profit to Rs 66.67 crore for the quarter ended June, mainly on account of transitional provision of GST.
The company had posted a net profit after tax, share of associates, joint venture and minority interest of Rs 103.74 crore for the same period a year ago, Alembic Pharmaceuticals said in a BSE filing.
Consolidated total income of the company stood at Rs 648.36 crore for the quarter under consideration as against Rs 737.40 crore for the corresponding period year ago.
Alembic Pharmaceuticals MD Pranav Amin said: "The performance in the quarter was weak primarily due to the transitional provision of GST on the India branded business".

The company's expansion is progressing well and its oncology segment was recently inaugurated, he added.
Shares of Alembic Pharmaceuticals today closed 2.73 per cent higher at Rs 558.10 per scrip on BSE.