Alembic Pharmaceuticals Limited on May 2 reported its consolidated financial results for the quarter ended March 2022 (Q4FY22). The company said its India business grew by 25 percent and the US generics segment saw a rise of 17% during the period.
The pharma company reported an 11 percent growth in revenue for the quarter under review at Rs 1,416 crore against Rs 1,280 crore reported in the same period of FY21.
"We are very happy with the quarter because of two to three reasons: the major markets of ours where we have a maximum stake, that is, in the Indian and the US business...The Indian business grew by 25 percent and the US generics also grew by 17 percent. So, those were both very heartening and exciting; a good quarter for both sides of the business," Pranav Amin, Managing Director, Alembic Pharmaceuticals Limited told MoneyControl.
Amin further said that the US business had seen a slowdown because the previous fiscal year saw several market restrictions on sartans. So, considering that, "we had done very well". Q1, Q2, and Q3 were a little poor in terms of growth as compared to the last year, the MD added.
In India, because of COVID-19, "we saw massive growth in anti-infectives. But, if you see the India business and the right way to look at it is compared to the market, the represented market on the specialty side grew by about seven percent and we grew by 13 percent," Amin said.
When asked about the growth projections of the company in the next quarters as COVID numbers continue to ebb, the managing director said it depends on how the market performs.
"We will continue to grow above market, and we believe we can go a couple of percentage points above the market," Amin said further.
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