Price erosion in US drags Alembic Pharma's Q3 net down 40% to Rs 176 cr

While the firm's US business fell 23% to Rs 393 cr in Q3FY22, its API sales were down 7% to Rs 198 crore

Sustained price erosion in its US business, coupled with a dip in its active pharmaceutical ingredients (API) sales, Alembic Pharmaceuticals Ltd (APL) has posted a 40 per cent fall on a year-on-year (YoY) in its net profit for the quarter ended December 31, 2021.

The company registered a net profit of Rs 176 crore for Q3FY22 as against Rs 293 crore in Q3FY21. Total sales for the quarter fell by three per cent to Rs 1,272 crore, down from Rs 1,314 crore in the said quarter last year.

While APL's US business fell by 23 per cent to Rs 393