Alembic Pharmaceuticals Ltd revenue up by 8% to Rs. 1595 crores in Q-2 FY24
Telugu super news,Mumbai, November 7th, 2023: Alembic Pharmaceuticals Limited reported its consolidated financial results for the second quarter and half year ended 30th September, 2023.
Financial Highlights
· Net Sales grew 8% to Rs.1595 crores for the quarter.
· Net Profit for the quarter at Rs.137 crores.
· Net Sales grew 13% to Rs.3081 crores for the H-1.
· Net Profit for H-1 at Rs.257 crores.
Mr. Shaunak Amin, Managing Director, Alembic Pharmaceuticals Limited said “Despite the challenges of a muted demand in the Antibiotic and respiratory market, it was a satisfactory quarter, backed with a strong performance by our specialty and animal healthcare portfolio. We are confident of returning to an industry beating growth moving forward”.
Operational Highlights
India Branded Business
· India Branded Business at INR 577 crores witnessed growth of 5% in Q2FY24 against IPM growth of 7%.
· Specialty therapies recorded growth of 10%* vis a vis industry growth of 9%*.
· Performed relatively better than the market in Antibiotic and Respiratory segments. Underlying factors remain strong despite muted demand in acute market for the quarter due to weak season.
· Animal Health business recorded growth of 32% over PY Q2.
*IQVIA Qtr September’ 23
Mr. Pranav Amin, Managing Director, Alembic Pharmaceuticals Limited said“It was a satisfactory quarter led by growth in all the verticals of the company, in particular Ex-US which grew by 17% and the API business outperformed with a 10% growth during the quarter”
Operational Highlights
International Business
· US Generics at Rs. 444 crores up by 6% on YoY basis and by 14% on QoQ basis
· Ex-US International Formulations grew 17% to Rs. 252 Crores in the quarter.
· We have regular exports now from both general injectable and oncology plants.
· 6 ANDA approvals received during the quarter; 190 Cumulative ANDA approvals.
· 2 ANDA filings during the quarter; Cumulative ANDA filings at 252.
API Business
· API business grew 10% at Rs. 322 crores in the quarter.
· 132 cumulative DMF Filings.
The summary of Total Revenue is as under: (Rs in Crores)
| Particulars | Q2 FY24 | Q2 FY23 | % Change | H-1 FY24 | H-1 FY23 | % Change |
| Formulation | ||||||
| India | 577 | 549 | 5% | 1101 | 1029 | 7% |
| USA Ex- US | 444252 | 418215 | 6%17% | 834518 | 785396 | 6%31% |
| API | 322 | 294 | 10% | 628 | 527 | 19% |
| Total | 1595 | 1475 | 8% | 3081 | 2737 | 13% |