Alembic Pharmaceuticals Q3 Results: Profit up 48% at Rs 180.45 crore, revenue rises 8.1% on-year

Alembic Pharmaceuticals Limited on Monday reported its third quarter profit for the financial year 2023-24 at Rs 180.45 crore, up 48 per cent in comparison to Rs 121.92 crore during the third quarter of previous year, surpassing estimates.

It posted revenue from operations at Rs 1,630.57 crore, up 8.1 per cent as against Rs 1,509.02 crore during the corresponding quarter of FY23. The company EBITDA stood at Rs 266.4 crore, up 7.1 per cent on-year.

According to a CNBC TV18 poll, Alembic Pharmaceuticals was expected to record Q3FY24 profit at Rs 140.1 crore and revenue was estimated at Rs 1,644 crore.

Alembic Pharmaceuticals’ Q3 performance across verticals

Alembic Pharmaceuticals’ India Branded Business was at Rs 596 crore, recording a growth of 9 per cent for the quarter. It said that Gynecology, Gastrointestinal, Anti Diabetic and Ophthalmology therapies outpaced market growth.

Also, it added that the relative degree of performance continued to be better than the market in Antibiotic and Respiratory segments on a high base of previous year. Animal Health business, meanwhile, recorded growth of 32 per cent on YoY basis.

Under International Business, US Generics grew by 9 per cent to Rs 474 crore for the quarter and ex-US International Formulations grew 32 per cent to Rs 272 crore for the quarter. It said that 7 ANDA approvals were received during the quarter, taking the cumulative ANDA approvals to 196.