Alembic Pharmaceuticals on Wednesday reported a 49.21 per cent decline in its consolidated net profit to Rs 169.29 crore for the quarter ended September 30, 2021, mainly on account of dip in sales in the US market.
The drug firm had posted a net profit of Rs 333.37 crore for the corresponding period of the previous fiscal, Alembic Pharmaceuticals said in a regulatory filing.
Its consolidated revenue from operations during July-September 2021 stood at Rs 1,292.32 crore. It was Rs 1,457.10 crore in the corresponding period a year ago, it added.
The sales of formulations in the US declined to Rs 348 crore for the quarter ended September 2021 as against Rs 582 crore for the year ago period, the filing said.
''India Branded Formulation business has posted a strong growth rate for the second consecutive quarter,'' Alembic Pharmaceuticals Managing Director Shaunak Amin said.
India formulations business stood at Rs 509 crore for the quarter under consideration, against Rs 415 crore for the same period a year ago, the filing said.
In a separate filing, the company said the US health regulator has issued 10 observations after the inspection of its Karkhadi injectable facility in Gujarat.
''The United States Food and Drug Administration (US FDA) has conducted an inspection at Alembic Pharmaceuticals' injectable facility located at Karkhadi from October 28, 2021 to November 20, 2021. The USFDA issued a Form 483 with 10 observations,'' the regulatory filing said.
None of the observations are related to data integrity and management believes that they are addressable, it added.
''The company is preparing the response to the observations, which will be submitted to the USFDA,'' Alembic Pharma said.
Shares of Alembic Pharmaceuticals Ltd on Wednesday closed at Rs 793.20 per scrip on BSE, up 1.71 per cent from its previous close.
(With PTI inputs)
