Alembic Pharma share price continues to rally for the second consecutive day. It is up over 5 percent, hitting fresh 52-week high after the company reported healthy growth in earnings for the March quarter. The drug maker has reported an 81.4 percent year-on-year (YoY) growth in Q4 profit at Rs 225 crore on a revenue of Rs 1,207 crore that grew by 30.2 percent.
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.
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.
The stock price surged over 63 percent in the last 1 month and was quoting at Rs 733.45, up Rs 34.90, or 5.00 percent at 09:50 hours. The scrip witnessed spurt in volume by more than 3.59 times and was trading with volumes of 58,180 shares, compared to its five day average of 15,936 shares, an increase of 265.08 percent.
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