Alembic Pharma reports 30 pct increase in net profit to Rs 169 cr in Q3

Alembic Pharmaceuticals Tuesday reported 30 per cent rise in consolidated net profit to Rs 169.83 crore for the quarter ended December 31, 2018, mainly on account of robust sales in the US. The company had posted a net profit of Rs 130.60 crore in the year-ago period, Alembic Pharma said in a filing to BSE.

Consolidated revenue from operations stood at Rs 1,018.15 crore in the reported quarter as against Rs 840.02 crore in December quarter 2017. "The growth in the quarter was attributed to a strong performance in the US and international business," MD Pranav Amin said.

The company's formulation, as well as active pharmaceutical ingredient (API) facilities, were successfully approved by USFDA during the quarter, he added. The US business grew 42 per cent to Rs 308 crore for the December quarter 2018 as against Rs 218 crore in the year-ago period, it said. Shares of Alembic Pharma closed at Rs 587.80 per scrip on BSE, down 0.60 per cent from the previous close.