Alembic Pharma Q3 result: Profit dips 23% to Rs 138 cr on weak sales

Indian drugmaker Alembic Pharmaceuticals reported a lower third-quarter profit on Monday, weighed down by weak local sales of its drugs that treat acute illnesses. 

The company's consolidated profit dropped 23 per cent to 1.38 billion rupees (nearly $16 million) in the quarter ended Dec. 31.

Its sales in India, its biggest market, grew 3 per cent from 9 per cent a year earlier. 

Key context 

Alembic Pharma said its sales were hurt by lower demand for its drugs to treat acute conditions, its second-biggest segment, which fell 11 per cent during the quarter. 

A significant chunk of revenue for most Indian generic drugmaker comes from the U.S. and fierce competition in the North American market has weighed on domestic firms' margins. 

Alembic's rivals Sun Pharma and Cipla beat third-quarter profit estimates, while Dr Reddy's missed expectations. However, all three reported muted growth in the North America market.  (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)