 "Alembic Pharma posts 11.5% growth in profit, driven by US business | Company Results")
Illustration: Ajay Mohanty
Vadodara-headquartered Alembic Pharmaceuticals posted an 11.5 per cent year-on-year (Y-o-Y) increase in profit after tax (PAT) during the first quarter of the financial year 2024-25, concluding on June 30, reaching Rs 134 crore. Alembic’s revenue from operations increased by 4.4 per cent Y-o-Y to Rs 1,563.8 crore. This increase in PAT was attributed to good performance in the US market.
On a sequential basis, the company exhibited a 2.8 per cent increase in revenue; however, the PAT declined by 24.5 per cent. The Ebitda (earnings before interest, tax, depreciation, and amortisation) margin rose 14 per cent Y-o-Y, reaching Rs 239 crore.
Commenting on the results, Shaunak Amin, managing director, Alembic Pharmaceuticals, stated, “India Branded Business continues to work on improving the execution ability both in quality and scale. The Specialty and Animal Health segment witnessed robust growth. The USFDA conducted an audit at our formulation facility F1, without any observations, underscoring our dedication to compliance and quality. The US business grew by 18 per cent during the quarter.”
For the quarter, the India Branded Business segment saw a 9 per cent growth, reaching Rs 572 crore. The segment experienced robust growth in specialty therapies, including gynaecology, gastrointestinal, anti-diabetic, and ophthalmology, and performed relatively better than the market in acute therapies. However, excess heat waves in Q1 FY25 led to unnatural market disturbances in affected geographies. The Animal Health business grew by 23 per cent for the quarter, driven by a basket of strong brands.
In Q1, the International Business segment, US Generics, saw an 18 per cent growth, reaching Rs 461 crore for the quarter, with two launches in the US market. Ex-US International Formulations grew by 2 per cent, amounting to Rs 271 crore for the quarter, and there were 206 cumulative abbreviated new drug application (ANDA) approvals.
The API (active pharmaceutical ingredient) business reported revenue of Rs 259 crore for the quarter, which was down by 15 per cent due to a higher base last year.
First Published: Aug 08 2024 | 6:53 PM IST
