Alembic Pharma share prices surges 10% on highest-ever profit, revenue in FY20

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Alembic Pharmaceuticals share price rallied nearly 10 percent intraday on April 23 after the company reported healthy growth in earnings for the March quarter.

The stock, which has shot up 57 percent in the last one month, was quoting at Rs 692, up 54.40, or 8.53 percent, on the BSE at 1430 hours.

The drug maker has reported an 81.4 percent year-on-year growth in Q4 profit at Rs 225 crore on a revenue of Rs 1,207 crore that grew by 30.2 percent.

At operating level, earnings before interest, tax, depreciation and amortisation (EBITDA) rose 84 percent YoY to Rs 327.5 crore and margin expanded 790 bps to 27.1 percent in the March quarter.

For the year, Alembic Pharma's profit surged 41.88 percent to Rs 829.12 crore and revenue from operations increased 17.06 percent to Rs 4,605.75 crore.

"It was a remarkable year for the company where we recorded our highest revenue and profit ever. This was led by strong growth in the US generics business. During the fourth quarter we saw our India and ROW business also getting back to a robust growth," Managing Director Pranav Amin said.

International formulations grew 80 percent to Rs 710 crore YoY in the quarter and 39 percent to Rs 2,473 crore for FY20, said the company in its BSE filing.

US generics business increased 84 percent to Rs 577 crore for the quarter and 53 percent to Rs 1,976 crore for FY20. Indian formulations business grew by 13 percent for the quarter to Rs 342 crore and 3 percent to Rs 1,425 crore for the year, it added.