Alembic Pharma Q2 PAT up 25 pc at Rs 250 cr

Alembic Pharmaceuticals Ltd on Friday reported a 25.12 percent increase in consolidated profit after tax at Rs 250.45 crore in the second quarter ended September 30. The company had posted a consolidated profit after tax of Rs 200.09 crore in the same quarter last fiscal, Alembic Pharmaceuticals said in a regulatory filing.

Revenue from operations during the period under review stood at Rs 1,240.87 crore as against Rs 1,127.06 crore in the year-ago quarter, up 10 percent. "It was a good quarter for the company led by growth in the US market and the Active Pharmaceutical Ingredient (API) business. We launched seven products in the US market in Q2," Alembic Pharmaceuticals Managing Director Pranav Amin said.

Alembic said its international formulations grew 10 percent to Rs 646 crore in the quarter under review and 17 percent to Rs 1,099 crore in the April-September period. The US generics grew 25 percent to Rs 539 crore in the quarter and 35 percent to Rs 884 crore in the first half of this fiscal.

Revenue from India formulations business for the quarter was Rs 391 crore, as against Rs 385 crores for the last year, the company said. The API business grew 31 percent to Rs 204 crore as against Rs 155 crore in the same period last fiscal, it added.

The company said it received six abbreviated new drug (ANDA) approvals during the quarter while five ANDAs were filed. "We continue to invest in R&D to build up a product pipeline," Amin said.

Shares of Alembic Pharmaceuticals were trading at Rs 50.95 apiece in the morning trade, up 0.10 percent from the previous close on the BSE.