Alembic Pharmaceuticals on Friday reported its consolidated financial results for the quarter and year ended 31st March, 2023. The company posted a net profit of Rs. 152.60 crores for the period ended March 31, 2023 as against net profit of Rs. 121.92 crores for the period ended December 31, 2022.
According to the company’s statement, the company posted net profit of Rs.21.92 crores for the period ended March 31, 2022.
The company’s net sales for the quarter stood at Rs.1406 crores. Meanwhile, net sales for FY23 at Rs. 5653 crores and net profit for FY23 at Rs. 342 crores.
“The USA business continues to remain challenging, however, the Company witnessed topline growth across all other verticals. In particular, the API business outperformed with a 41% growth and Ex-US generics with 33% growth during the quarter. We have started commercialization of products from our injectable and oncology facilities. India Branded Business continues to outperform the market especially on focused products / therapeutic segments,” Mr. Pranav Amin, Managing Director, Alembic Pharmaceuticals Limited said in a statement.
The India Branded Business grew 9 percent to Rs. 490 crores in the quarter. Ex of Azithral Branded Business grew 12 percent. As per IQVIA, the Specialty segment grew 13 percent compared to the industry specialty growth of 12 percent.
The pharma company also reported that the growth in specialty segment was driven by Gynecology, Anti-Diabetic, Ophthalmology and Orthopedics.
In the International Business, US Generics stood at Rs. 354 crores in the quarter. Moreover, Ex-US International Formulations grew 33% to Rs. 249 Crores in the quarter.
Additionally, the API business grew 41 percent at Rs. 313 crores in the quarter.
