Alkem Labs Q2 net inches up 6% to Rs 283 cr

Drug firm Alkem Laboratories today reported a 5.96 per cent rise in its consolidated net profit to Rs 282.83 crore for the quarter to September, mainly on back of robust sales.
Net profit after taxes and minority interest was Rs 266.92 crore for the corresponding period of the previous fiscal, Alkem Laboratories said in a filing to BSE.
Consolidated total income from operations also rose to Rs 1,638.34 crore for the quarter under consideration as against Rs 1,381.95 crore for the year-ago period.
"Despite regulatory headwinds at the start of the financial year in the form of expansion of NLEM (National List of Essential Medicines) list, WPI linked price cuts and downward revision in the ceiling prices of some of our key brands... We have delivered a robust growth in our India business," Alkem CEO Prabhat Agrawal said.

Shares of Alkem Laboratories today closed at Rs 1,637.40 per scrip on BSE, down 0.03 per cent from the previous close.