Alembic Pharmaceuticals Ltd profit up by 48% to Rs. 180 crores in Q-3 FY24

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Alembic Pharmaceuticals Ltd profit up by 48% to Rs. 180 crores in Q-3 FY24.Alembic Pharmaceuticals Limited reported its consolidated financial results for the third quarter and nine months period ended 31st December, 2023.

Financial Highlights

·         Net Sales grew 8% to Rs.1631 Crores for the quarter.

·         Net Profit up 48% to Rs.180 Crores from Rs.122 Crores

·         EBITDA up 14% to Rs. 269 Crores.

Mr. Shaunak Amin, MD, Alembic Pharmaceuticals Limited said “The India Branded Business was underpinned by a continued incremental improvement in core operations. The Specialty and Animal health segments continued its strong outperformance; 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.”

Operational Highlights

India Branded Business

·         India Branded Business at Rs. 596 Crores witnessed growth of 9% for the quarter.

·         Gynecology, Gastrointestinal, Anti Diabetic and Ophthalmology therapies outpaced market growth.

·         Relative degree of performance continue to be better than the market in Antibiotic and Respiratory segments on high base of previous year. 

·         Animal Health business recorded growth of 32% YoY basis. Basket of strong brands continue to drive outperformance.

International Business

·         US Generics grew 9% to Rs. 474 Crores for the quarter.

·         Ex-US International Formulations grew 32% to Rs. 272 Crores for the quarter.

·         7 ANDA approvals received during the quarter; 196 Cumulative ANDA approvals.

API Business

·         API business at Rs. 289 Crores for the quarter.

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