Shares of Alembic Pharmaceuticals rose 5.38 per cent at Rs 1285.60 per share on the BSE on Thursday ahead of the pharma major’s financial performance announcement. However, the stock pared all its gains and slipped in red after the first quarter results for the financial year 2024-25 (Q1FY25) were announced.
The company registered decent growth in the topline and bottomline on a year on year basis for the April-June of FY25. The company reported revenue from operations to the tune of Rs 1,562 crore, a 5 per cent increase Y-o-Y from Rs 1,486 crore in June quarter of FY24.
The net profit also rose by 10 per cent Y-o-Y to Rs 131 crore in Q1FY25, up from Rs 119 crore in the same quarter the previous year. However, it saw a 21 per cent decline compared to Rs 166 crore in Q4FY24.
The company’s earnings before, interest, tax, depreciation and amortisation (Ebitda) rose 14 per cent to Rs 239 crores, the company said in a statement.
The company’s India branded business grew 9 per cent Y-o-Y to Rs. 572 crores for the quarter. Further US generics grew 18 per cent to Rs 461 crores for the quarter. The company launched two products in the US market during the quarter.
Alembic Pharma said that launches of recently approved products will drive the growth in the US in coming quarters. The company received 9 final approvals in Q1FY25.
Further, international formulations excluding the US rose 2 per cent Y-o-Y to Rs. 271 crore in the June quarter. The management said growth momentum in this market will continue in FY25 backed by a strong order book.
However, the company’s API business de-grew by 15 per cent Y-o-Y to Rs 259 crores for the quarter, on account of lower off-take from few selected customers.
At 02:43 PM; the stock price of the company was trading 0.68 per cent lower at Rs 1,211.60 per share on the BSE. By comparison the BSE Sensex was down by 0.55 per cent at 79,032 levels.
First Published: Aug 08 2024 | 2:58 PM IST
