Alembic Pharma beats estimates on higher domestic sales
Consolidated revenue from operations for the company rose nearly 19 percent from last year.
Bengaluru: Indian generic drugmaker Alembic Pharmaceuticals Ltd on Wednesday reported third-quarter profit that beat analyst expectations, helped by strong sales in its domestic market.
The Vadodara-based company, which makes antibiotic drugs, said consolidated profit was 1.22 billion rupees ($14.91 million)for three months ended Dec. 31, down from 1.72 billion rupees from the same quarter last year.
Analysts on an average had expected the company, which also makes Wikoryl tablets to treat cough and cold, to report a profit of 1.16 billion rupees.
Revenue from its India segment, which contributes to 35% of the total, came in at 5.45 billion rupees, up 12% a year ago.
Alembic Pharma said its specialty segment, accounting for 20% of sales, grew 14% compared to the industry specialty growth of 10%, driven by therapies like gynecology, anti-Diabetic and ophthalmology.
Founded in 1907, the company also makes drugs including Azithral, used to treat bacterial infections, and anti-ulcer medicine Deltone.
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Consolidated revenue from operations for the company rose nearly 19% from last year.
Larger rivals Dr Reddy’s Laboratories Ltd and Sun Pharmaceutical Industries Ltd had also beat profit estimates for their third-quarter on strong drug sales.
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