US sales drags Alembic Pharma Q3 profit down by 67%

Domestic sales remained more or less flat during the quarter at Rs 319 cr

Vadodara-based Alembic Pharmaceuticals Ltd has posted a 67.8 per cent year on year drop in net profit for the third quarter of the current fiscal to Rs 86.55 crore as its revenues from the international business fell by around 25 per cent compared to same quarter last year.

The company said that the surge in international revenues in Q3FY16 was due to the launch of a limited competition product Aripiprazole (generic) in the US market. Net sales for the quarter ended December 31, 2016 stood at Rs 776.15 crore as against Rs 930.17 crore in the corresponding quarter last fiscal, a