Local drug maker Alembic reported more than two-fold jump in consolidated net profit to Rs 301.46 crore for the quarter ended on June 30, 2020, led by robust sales in international markets.
The company had posted a net profit of Rs 123.72 crore for the corresponding period of the previous fiscal.
Consolidated revenue from operations of the company stood at Rs 1,341.32 crore for the period under consideration against Rs 948.91 crore for the same period year ago.
International formulations revenue grew 70% to Rs 771 crore in the quarter.
The active pharma ingredient business, which grew 54% on-year, tends to be lumpy. The business got the boost of some covid-related rise in API demand during the lockdown.
The domestic business has been slow due to fewer prescriptions in Q1 as hospitals and clinics were closed during the lockdown.
Alembic’s US business showed decent y-o-y growth, as sartan drug prices have been firm. Besides its gUloric is also doing well. Due to this, the US business is now bringing in about 44% of its revenue. The firm has lined up five US launches for Q2.
For the drug maker it was an excellent quarter backed by growth in all the international markets. Despite exceptionally, challenging circumstances, the operating teams ensured profitability and growth.
It’s improved earnings before interest, taxes, depreciation and amortization (Ebitda) can be explained by the about 30% q-o-q lower research and development expenses. Even so, the Ebitda margin expanded to a decent 31% during the quarter.
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