Alembic Pharma's Revenue At Rs 1,437 Cr In Q2FY23, PAT Drops by 22%
Alembic Pharmaceuticals, the Indian pharma major headquartered in Vadodra on Friday announced its consolidated financial results for the second quarter that ended 30th September 2022, the pharmaceutical company registered a 12.3 per cent rise in its consolidated revenues quarter on quarter, with the company's revenue for the second quarter stood at Rs 1,437.34 crores against Rs 1,313.19 crores in the same quarter last year.
The company recorded a net profit of Rs 133.35 crores in quarter two of the financial year 2023(Q2FY23) against Rs 163.99 crores recorded in the corresponding quarter in the previous year, a drop of 22.9 per cent quarter on quarter.
Alembic posted an EBITDA of Rs 1,322.38 crores for the second quarter up by 15.8 per cent quarter on quarter from Rs 1,112.95 crores registered in the corresponding quarter of last year
The company in a statement said that its Indian formulations business grew by 11 per cent to Rs 549 crores in the September quarter, whereas US generics grew by 20 per cent to Rs 418 crores in the second quarter. The company's API (Active Pharmaceutical Ingredient) also grew by 23 per cent at Rs 294 crores in the quarter.
“It was a satisfactory quarter led by growth in all the verticals of the company, in particular the API business outperformed with a 23 per cent growth during the quarter,” said Pranav Amin, Managing Director, Alembic Pharmaceuticals Limited.
The company's stock was trading 3.81 per cent higher at Rs 639.50 a piece as of 15:28 IST.
