Alembic Pharma net profit rises 48 percent to Rs 180 crore in Q3
Its net sales increased 8 per cent to Rs 1,631 crore for the third quarter from Rs 1,509 crore in the year ago period, Alembic Pharma said in a statement.
Vadodara: Alembic Pharmaceuticals has reported a 48 per cent increase in its consolidated net profit to Rs 180 crore for the third quarter ended December 2023, due to robust sales across domestic and export markets.
The drug maker had reported a net profit of Rs 122 crore in the October-December period of the last fiscal.
Its net sales increased 8 per cent to Rs 1,631 crore for the third quarter from Rs 1,509 crore in the year-ago period, Alembic Pharmaceuticals said in a statement.
"The India branded business was underpinned by a continued incremental improvement in core operations. The speciality and animal health segments continued its strong performance; 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 MD Shaunak Amin said.
Headquartered in Vadodara, Gujarat, Alembic Pharmaceuticals Limited is involved in manufacturing and marketing India Formulations, International Generics, and Active Pharmaceutical Ingredients with vertical integration capabilities. The company was founded in 1907. Alembic's state of the art research and manufacturing facilities are approved by regulatory authorities of many developed countries including the USFDA.
