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Vadodara-based Alembic Pharmaceuticals today reported 7.17 percent increase in net profit at Rs 70.66 crore for the third quarter ended December 31, 2014-15 on the back of branded formulations business in India.
The company had posted net profit of Rs 65.93 crore in the same quarter of the 2013-14 fiscal. Net sales during the period under review stood at Rs 514.9 crore, up 6 per cent as against Rs 486.74 crore in the corresponding quarter last fiscal.
The branded formulations business in India posted sales of Rs 250 crore as against Rs 225.1 crore, up 11 per cent, while speciality and acute segments grew by 19 percent and 3 percent respectively, a company statement here said. In contrast, the international generic formulation posted a growth of 3 percent at Rs 133.3 crore as compared to Rs 129.6 crore a year ago.
During the quarter, the company filed one abbreviated new drug application (ANDAs) and received approval for one. It also filed two drug master file (DMF) applications during the period.
For the nine months ending December 31, the net sales up by 11.2 per cent to Rs 1559.8 crore against Rs 1403.2 crores in the corresponding period last year.
Net profit after tax up by 22 per cent for the same period to Rs 212.6 crore against Rs 174.2 crore in the corresponding period last year.
