Alkem Laboratories on Wednesday announced its standalone and consolidated financial results for the second quarter and half year ended September 30, 2024.The company reported a 11 percent year-on-year increase in net profit to Rs. 689 crore in the September quarter. The company reported Rs. 621 crore profit in the corresponding quarter of the previous year.
According to the company’s statement, revenue from operations were down marginally by 0.7 percent on-year to Rs. 3,414.6 crore in the quarter under review as against Rs. 3,440 crore in the same quarter last year.
India sales stood at Rs. 2461 crore, YoY growth of 5.7 percent and the international sales were at Rs. 918.1 crore, with YoY de-growth of 12.9 percent. According to the company’s statement, R&D expenses for the quarter were Rs. 146.5 crore, or 4.3 percent of total revenue from operations, compared to Rs.115.8 crore in Q2FY24 at 3.4% of total revenue from operations.
“We are pleased to share that the outcomes of our strategic initiatives designed to enhance profitability have proven effective. We are prioritising a high-margin product mix, aligning more effectively with market demands, and implementing cost-control measures to mitigate inefficiencies, which are supporting EBITDA margin growth. In the domestic market, our focus remains on augmenting the growth of our large brands and making strategic portfolio additions. We also see significant opportunities for growth in our emerging markets business,” Dr Vikas Gupta, CEO of Alkem, said.
As per IQVIA (SSA) data, for Q2FY25, the company registered a growth of 6.3 percent YoY vs. the Indian Pharmaceutical Market (IPM), which grew by 7.6 percent.
