Alembic Pharma Q3 net profit rises 48% to Rs 180 crore

Alembic Pharmaceuticals on Monday reported a 48 per cent increase in its consolidated net profit to Rs 180 crore for the third quarter ended December 2023, due to robust sales across domestic and export markets. The drug maker had reported a net profit of Rs 122 crore in the October-December period of the last fiscal.

Its net sales increased 8 per cent to Rs 1,631 crore for the third quarter from Rs 1,509 crore in the year-ago period, Alembic Pharmaceuticals said in a statement. "The India branded business was underpinned by a continued incremental improvement in core operations. The speciality and animal health segments continued its strong performance; whereas the acute performance was relatively satisfactory despite challenging market conditions," Alembic Pharmaceuticals MD Shaunak Amin said. Shares of Alembic Pharma on Monday ended 0.85 per cent up at Rs 965.15 apiece on the BSE.