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Alembic Pharma gains after Q1 results

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Alembic Pharmaceuticals rose 2.27% to Rs 547 at 14:35 IST on BSE after consolidated net profit rose 36.75% to Rs 123.72 crore on a 10.38% increase in total income to Rs 952.20 crore in Q1 June 2019 over Q1 June 2018.

The result was announced during market hours today, 29 July 2019.

Meanwhile, S&P BSE Sensex was down 257.73 points or 0.68% at 37,625.06.

On BSE, 7,544 shares were traded in Alembic Pharmaceuticals counter, compared to a 2-week average of 2,977 shares. The stock hit an intraday high of Rs 559 and an intraday low of Rs 530. It hit a 52-week high of Rs 664 on 27 September 2018 and a 52-week low of Rs 435.10 on 21 June 2019.

The company's EBITDA surged 54% to Rs 233 crore in Q1 June 2019 over Q1 June 2018. The EBITDA margin stood at 25% in Q1 June 2019 as against 18% in Q1 June 2018. The pharmaceutical company received 9 ANDA approvals during the quarter and cumulative ANDA approvals of 98 (including 12 tentative). The firm has also reported 4 ANDA filings during the Q1 June 2019 with cumulative ANDA filings of 165.

The company's managing director, Pranav Amin, said "It was a good quarter for the company backed by exceptional growth in the US market. Our Oncology Manufacturing Facility was inspected by the USFDA with no observations."

Alembic Pharmaceuticals is a vertically integrated research and development pharmaceutical company.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, July 29 2019. 15:04 IST