8, Nov 2023
Alembic Pharmaceuticals Ltd revenue up by 8 Percent to Rs. 1595 crores in Q-2 FY24
Mumbai, November 7th, 2023: Alembic Pharmaceuticals Limited reported its consolidated financial results for the second quarter and half year ended 30th September 2023.
- 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”.
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 the Antibiotic and Respiratory segments. Underlying factors remain strong despite muted demand in the acute market for the quarter due to the 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”
- US Generics at Rs. 444 crores up by 6% on a YoY basis and by 14% on a 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 were received during the quarter; 190 Cumulative ANDA approvals.
- 2 ANDA filings during the quarter; Cumulative ANDA filings at 252.
- 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|