Alkem Laboratories Q1 net profit jumps 36 pc to Rs 187.29 cr

Drug firm Alkem Laboratories on Monday reported a 36.43 per cent rise in its consolidated net profit at Rs 187.29 crore for the quarter ended June 30, 2019, mainly on account of robust sales in India and the US.

The company had posted a net profit of Rs 137.27 crore for the corresponding period of the previous fiscal, Alkem Laboratories said in a filing to BSE.

Consolidated revenue from operations stood at Rs 1,849.50 crore for the quarter under consideration as against Rs 1,658.94 crore for the same period a year ago, it added.

"We have had a positive start to the financial year with both our key markets of India and the US registering a healthy double digit growth during the quarter," Alkem Laboratories' MD Sandeep Singh said.

The company's operating cash flows have also shown a marked improvement over the same quarter last year. It looks forward to sustain this momentum for the rest of the year, he added.

In the first quarter of FY20, the company's India sales grew by 12.1 per cent year-on-year, recording a sales of Rs 1,222.2 crore as compared to Rs 1,090.6 crore in the year ago period, Alkem Laboratories said.

The international sales of the company also grew by 7.9 per cent for the first quarter ended June this year to Rs 591.2 crore as against Rs 547.9 crore for the same period of the previous fiscal year, it added.