Alembic Pharmaceuticals revenues up 20 per cent at Rs 488 crores for quarter ended September 30th, 2013

Alembic Pharmaceuticals has posted a 20 per cent increase in revenues to Rs 487.67 crores for the quarter ended September 30th, 2013, compared to Rs 407.53 crores in the corresponding quarter last year. The company posted 52 per cent growth in profit before tax at Rs 80.49 crores for the said quarter against Rs 52.98 crores posted in corresponding quarter last fiscal.

The net profit grew by 45 per cent at Rs 61.64 crores for the quarter ended September 30, 2013 against Rs 42.49 crores in corresponding quarter last fiscal. Earnings before interest, taxes, depreciation and amortisation (EBIDTA) margins for said quarter was up at 19 per cent to Rs 92.71 crores from 15.9 per cent for corresponding quarter last year.

The company also reported 18 per cent increase in revenue for first half of operations to Rs 916.45 crores against Rs 775.59 crores corresponding first half last year. The company also posted 55 per cent growth in profit before tax at Rs 140.99 crores for first half against Rs. 91.08 crores for corresponding first half last year. The company also reported 48 per cent growth in net profit for first half at Rs 108.28 crores against Rs 73.33 crores in corresponding first half last year.

The branded domestic formulations business posted sales of Rs 241.01 crores against Rs 219.86 crores with a 10 per cent growth over the corresponding quarter of the previous year. The international generic formulation posted growth of 123 per cent and posted sales of Rs 113.67 crores against Rs 51.01 crores over the corresponding quarter last year.

During the quarter two ANDA application were filed taking cumulative ANDA filings of the Company to 59. One ANDA approval was received during the quarter. Cumulative ANDA approvals now stands at 30 (including four tentative approvals).

EP News Bureau – Mumbai