Alembic Pharma’s First Quarter Net Profit Rises 45%, Margins Improve
Alembic Pharma net profit rises 45%. Revenue beats estimates.
Alembic Pharmaceuticals Ltd. shares rose as much as 5 percent to Rs 643.6 after the company reported June quarter revenue that surpassed estimates, and margins improved.
Revenue rose 24.8 percent to Rs 728.03 crore, compared to the same quarter last year, according to the company’s filing to the exchanges. The consensus of analysts tracked by Bloomberg stood at Rs 651 crore.
Alembic’s margins on earnings before interest, taxes, depreciation and amortization rose to 21.6 percent from 17.5 percent in the same quarter last year.
Net profit rose 45.9 percent to Rs 103.75 crore. This was in line with the Bloomberg consensus estimate of Rs 102.25 crore.
The company successfully launched 23 products in the U.S. market through Alembic USA, Pranav Amin, the managing director of Alembic Pharma said in a press release.