Alembic Q1 net rises 2%

Vadodara based Alembic Pharmaceuticals has posted a 2.4 per cent rise in net profit for the first quarter of the fiscal ended June 30, 2012 at Rs 27.28 crore on the back of a 14 per cent rise in its domestic formulations sales and a 37 per cent growth in active pharmaceutical ingredients (API) exports . Net sales for the quarter under review stood at Rs 340.7 crore, up 5.5 per cent from Rs 322.7 crore in the year-before period.

On a consolidated basis, the company posted a 12 per cent rise in net profit to Rs 30.83 crore in Q1FY13, up from Rs 27.56 crore in the corresponding quarter in 2011-12 fiscal. Net sales was up 7 per cent to Rs 368 crore during the quarter under review against Rs 345 crore in corresponding quarter last year.

Domestic formulations sales was up 14 per cent during the quarter at Rs 197 crore against Rs 172 crore in the same period a year before. Formulation export sales were up marginally at Rs 139 crore during the quarter from Rs 137 crore in Q1FY12. For the quarter, API exports stood at Rs 83.48 crore against Rs 60.73 crore in the year-before period.