Alembic Pharmaceuticals Revenue Up By 18% To ₹1486 Cr In Q1FY24

Alembic Pharmaceuticals Limited on Friday announced its consolidated financial results for the first quarter ended 30th June, 2023, the company announced through an exchange filing.

Financial Highlights

Net Sales grew 18 percent to Rs 1486 crores for the quarter. Net Profit for the quarter at Rs 121 crores.

“The company grew in all the business segments with India outperforming the market with 9 percent growth, Ex US generics grew 46 percent, API grew 31percent and the US generics business grew 6 percent. We have also started commercializing products from our Oncology and Injectable Facilities,” said Pranav Amin, Managing Director, Alembic Pharmaceuticals Limited.

Operational Highlights

India Branded Business

Branded Business up by 9 percent to Rs 524 crore in the quarter. Branded Business reflected growth of 11 percent better than industry growth of 9 percent. Specialty therapies recorded growth of 12 percent vis a vis industry growth of 7 percent.

Acute therapies recorded growth of 16 percent vis a vis Industry growth of 10 percent. In Anti Infective, Industry has shown growth of 10 percent where as Alembic recorded 19 percent growth. Animal Health business recorded growth of 11 percent over PY Q1.

International Business

US Generics up 6 percent to Rs 390 crores in the quarter. Ex-US International Formulations grew 46 percent to Rs 266 crores in the quarter.

Five ANDA approvals received during the quarter; 184 Cumulative ANDA approvals and 5 ANDA filings during the quarter; Cumulative ANDA filings at 250.

API Business 

API business grew 31 percent at Rs 305 crores in the quarter and 131 cumulative DMF Filings.