Alembic Pharma's net profit surges 38% yoy in Q3FY20

Alembic Pharma's net profit surges 38% yoy in Q3FY20
Alembic Pharmaceuticals Limited reported its consolidated financial results for the quarter ending December 31, 2019.

The pharma company's revenue for the quarter was up 19% yoy at Rs1,209cr from Rs1,018cr. Net Profit for the quarter up 38% yoy to Rs234cr from Rs170cr.

International formulations grew 48% yoy to Rs664cr in the quarter. US Generics grew 61% yoy to Rs515cr in the quarter. Ex-US Sales grew 15% yoy to Rs149cr in the quarter.
8 ANDA approvals were received during the quarter and the total tally stand at 110. 6 ANDA filings were made during the quarter with cumulative ANDA filings standing at 176.

The India formulations business was Rs368cr for the quarter as against Rs365cr last year.
Alembic Pharmaceuticals Ltd is currently trading at Rs598.25 up by Rs0.05 or 0.01% from its previous closing of Rs598.20 on the BSE.
The scrip opened at Rs602 and has touched a high and low of Rs603.85 and Rs590.05 respectively. So far 4,55,240 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs11,276.07cr.

Mr. Pranav Amin, Managing Director, Alembic Pharmaceuticals Limited said "It was a good quarter for the company led by strong growth in the International Markets. We launched 7 products in the US market during the quarter."

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