Alembic Pharma dips 8% on disappointing June quarter results

Shares of Alembic Pharmaceuticals dipped 8 per cent to Rs 840 on the BSE in intra-day trade on Tuesday after the company reported disappointing numbers for the quarter ended June 2021 (Q1FY22), with consolidated profit after tax (PAT) declining 45.4 per cent year-on-year (YoY) to Rs 164.50 crore on weak performance of US business. The pharmaceutical company had posted a PAT of Rs 301 crore in Q1FY21.

Ebitda (earnings before interest, taxes, depreciation, and amortization) margins declined 1,258 basis points (bps) YoY to 17.8 per cent due to higher other expenditure.

The company’s revenues declined 1.1 per cent YoY to Rs 1,326