Alkem Laboratories Q2 net profit dips 20.64% to Rs 254.5 cr

Alkem Laboratories Friday said its net profit (after minority interest) fell by 20.64 per cent year-on-year to Rs 254.5 crore in the quarter ended September.

The company had posted a profit of Rs 320.7 crore in the same period last year.

The revenue from operations grew by 3.2 per cent to Rs 1,918.9 crore, it said in a release.

The company's domestic sales declined by 6.2 per cent to Rs 1,318.4 crore on the high base of Q2FY18 on account of GST led inventory restocking, it added.

Its international sales grew by 32.5 per cent to Rs 580.9 crore in the quarter.

The company's R&D expenses for the quarter stood at Rs 104.9 crore, or 5.5 per cent of revenue from operations, compared with Rs 90.1 crore last year, at 4.8 per cent of revenue from operations.

The company filed seven abbreviated new drug applications (ANDAs) with the US FDA during the quarter, and received two approvals (including one tentative approval), the release said.

As on September 30, the company has filed a total of 117 ANDAs and one new drug application (NDA) with the US FDA, of which 52 are Para IV filings including first-to-files (FTFs). Of these, it has received approvals for 52 ANDAs (including seven tentative approvals) and one NDA, it added.

The company's stocks ended the day 0.35 per cent higher at Rs 1,908.90 apiece on the BSE, against 1.68 per cent rise in the benchmark.