Alembic Pharma records 48% growth in Q3 PAT

The drug maker recorded 48.01% jump in consolidated net profit to Rs 180.45 crore in Q3 FY23 as compared with Rs 121.92 crore in Q3 FY22.

Revenue from operations slipped 8.05% year on year (YoY) to Rs 1,630.57 crore in the quarter ended 31 December 2023.

Profit before tax increased 19.48% to Rs 184.58 crore in Q3 FY23 as compared with Rs 154.49 crore in corresponding quarter last year.

EBIDTA grew 14% YoY to Rs 269 crore while EBIDTA margin stood at 16.5% during the period under review.

On the segmental front, API revenue was Rs 289 crore (down 11% YoY). In the Formulations business, India revenue was Rs 596 crore (up 9% YoY), US revenue was Rs 474 crore (up 9% YoY) and Ex-US revenue was Rs 272 crore (up 32% YoY).

 

Research and development (R&D) expenses aggregated to 7% of sales.

Shaunak Amin, MD of Alembic Pharmaceuticals said, The India Branded Business was underpinned by a continued incremental improvement in core operations. The Specialty and Animal health segments continued its strong outperformance; whereas the Acute performance was relatively satisfactory despite challenging market conditions. The Ex-US generics grew 32% in the quarter, whereas the US returned to a 9% growth on the back of 11 launches and 7 approvals.

Alembic Pharmaceuticals is in the business of development, manufacturing, and marketing of Pharmaceuticals products i.e. Formulations and Active Pharmaceutical Ingredients.

Shares of Alembic Pharmaceuticals rose 0.85% to end at Rs 965.15 on the BSE. The counter hit an all-time high of Rs 1,033.15 in todays intraday session.

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