Alembic Pharma posts 11.5% profit growth, driven by US operations
Illustration: Ajay Mohanty
Vadodara-headquartered Alembic Pharmaceuticals posted an 11.5 per cent year-on-year (YoY) increase in profit after tax (PAT) during the first quarter of fiscal 2024-25 ended June 30 to reach Rs 134 crore. Alembic’s revenue from operations rose 4.4 per cent YoY 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 showed a revenue growth of 2.8 percent; however, PAT declined by 24.5 percent. The EBITDA (earnings before interest, tax, depreciation and amortization) margin grew by 14 percent YoY to reach Rs 239 crore.
Commenting on the results, Shaunak Amin, Managing Director, Alembic Pharmaceuticals, said, “India Branded Business continues to work towards improving its execution capabilities, both in terms of quality and scale. The Specialty and Animal Health segment witnessed robust growth. The USFDA conducted an audit of our F1 formulation facility without any observations, underscoring our commitment to compliance and quality. The US business grew by 18 percent during the quarter.”
For the quarter, the India Branded Business segment saw a growth of 9 per cent to Rs 572 crore. The segment witnessed robust growth in specialty therapies including gynaecology, gastrointestinal, anti-diabetic and ophthalmology, and performed relatively better than the market in acute therapies. However, excessive heatwaves in Q1 FY25 led to unnatural market disruptions in affected regions. The Animal Health business grew 23 per cent for the quarter, led by a basket of strong brands.
In Q1, the International Business segment, US Generics, saw a growth of 18 per cent, amounting to 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 ingredients) division reported revenue of Rs 259 crore for the quarter, down 15 percent due to a higher base last year.
First print: Aug 08, 2024 | 6:53 PM IST