Alembic Pharma on Friday reported its consolidated financial results for the quarter and a half year that ended on 30th September 2022.
The pharma company has registered a 12.3 percent rise in its consolidated revenues quarter on quarter, with the company’s revenue for the second quarter stood at Rs 1,437.34 crores against Rs 1,313.19 crores in the same quarter last year.
The company reported that the net sales for the quarter were up 14% to Rs. 1475 crores and net profit for the quarter at Rs. 133 crores.
“It was a satisfactory quarter led by growth in all the verticals of the company, in particular the API business outperformed with a 23% growth during the quarter,” Pranav Amin, Managing Director, Alembic Pharmaceuticals Limited said in a statement on Friday.
According to the pharma company, the India Formulations Business grew by 11 percent (Excluding one-time non-recurring sales of Amphotericin – B) to Rs. 549 crores in the quarter.
India Business Growth for the quarter is on the back of exceptionally high market growth in Q2 FY 21-22. Alembic clocked a large out-performance vs market and the specialty segment grew faster than the market, it stated.
In the International Business segment, US Generics grew 20% to Rs. 418 crores in the quarter, and ex-US International Formulations grew 9% to Rs. 215 Crores in the quarter. Meanwhile, three ANDA approvals were received during the quarter; 170 Cumulative ANDA approvals and five ANDA filings during the quarter; Cumulative ANDA filings at 242.
Meanwhile, the API business grew 23% at Rs. 294 crores in the quarter. In H-1 FY23, the company registered net sales at Rs. 2737 crores and net profit at Rs. 67 crores.
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