Alembic Pharma stock rallies nearly 10 pc after Q4 results

Shares of Alembic Pharmaceuticals on Thursday surged nearly 10 per cent after the company reported an 81 per cent rise in its consolidated net profit for the fourth quarter ended March, 2020.

The scrip zoomed 9.56 per cent to close at Rs 698.55 on the BSE. During the day, it rallied 11.35 per cent to Rs 710 -- its 52 week-high.

On the NSE, shares of the company climbed 8.21 per cent to close at Rs 690.

Earlier in the day, the Drug firm reported an 81 per cent rise in its consolidated net profit at Rs 224.93 crore for the fourth quarter ended March 31, 2020, mainly on account of robust sales in international markets.

The company had posted a net profit of Rs 124 crore for the corresponding period of the previous fiscal, Alembic Pharmaceuticals said in a regulatory filing.

Consolidated revenue from operations of the company rose to Rs 1,206.83 crore for the quarter under consideration, against Rs 926.95-crore revenue in the same period a year ago.

For the fiscal year ended March 31, 2020, the consolidated net profit of the company rose to Rs 829.12 crore as against Rs 584.37 crore in the previous fiscal year.