Alkem Laboratories Q2 net profit up 27% to Rs 482 crore

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Drug firm Alkem Laboratories on Friday reported a 26.54 percent rise in its consolidated net profit to Rs 481.51 crore for the quarter ended September mainly on account of robust sales.

The company had posted a net profit of Rs 380.52 crore for the corresponding period of the previous fiscal, Alkem Laboratories said in a BSE filing.

Consolidated revenue from operations of the company stood at Rs 2,362.80 crore for the quarter under consideration.

It was Rs 2,264.03 crore for the same period a year ago, it added.

"Even as we continue our fight against the COVID-19 pandemic, the company witnessed a significant recovery in its India business driven by a pick-up in a new prescription generation as the government announced multiple rounds of unlocking,” Alkem MD Sandeep Singh said.

The company’s international business also continued its healthy growth momentum led by its US business which delivered a robust growth of 28 percent year-on-year during the first half of the fiscal year, he added.

In the second quarter of fiscal 2021, the company’s India sales grew by 0.5 percent year-on-year, recording a sales of Rs 1,557.4 crore as compared to Rs 1,550.3 crore in the second quarter of fiscal 2020, the filing said.

For the September ended quarter, international sales were at Rs 779 crore as compared to Rs 669.1 crore in the second quarter of financial year 2020, a year-on-year growth of 16.4 percent, it added.

Shares of Alkem Laboratories were trading at Rs 2,755 per scrip on BSE, up 0.18 percent from its previous close.