Moneycontrol
Last Updated : Oct 22, 2018 03:07 PM IST | Source: PTI

Alembic Pharma Q2 profit up 64% to Rs 200 cr

The company had posted a net profit of Rs 121.56 crore in the year-ago period, Alembic Pharma said in a filing to BSE.

 
 
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Alembic Pharmaceuticals on Monday reported 64.58 percent rise in consolidated net profit to Rs 200.07 crore for the quarter ended September 30, mainly on account of robust sales overseas.

The company had posted a net profit of Rs 121.56 crore in the year-ago period, Alembic Pharma said in a filing to BSE.

Consolidated revenue from operations stood at Rs 1,127.06 crore for the reported quarter. It was Rs 789.29 crore in the second quarter of 2017-18.

International formulations sales grew to Rs 587 crore from Rs 262 crore in the year-ago period, the company said.

"A one-time supply opportunity arising due to a product shortage in the US market has resulted in higher profits," MD Pranav Amin said.

In another filing, the company informed that its dermatology JV Aleor Dermaceuticals has successfully cleared first USFDA inspection of its new formulation manufacturing facility at Karakhadi in Gujarat, without any observations.

Shares of Alembic Pharma were today trading at Rs 588 per scrip on BSE, down 3.31 percent from the previous close.
First Published on Oct 22, 2018 03:01 pm
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