Results: Alkem Labs Q4 profit up 30% at Rs 249 crore
Results: Alkem Labs Q4 profit up 30% at Rs 249 crore

Drug firm Alkem Laboratories on Tuesday reported 30.11 per cent rise in consolidated net profit at Rs 249.22 crore for the quarter ended March 31, 2021.

The company had posted a net profit of Rs 191.54 crore for the corresponding period of the previous fiscal year, Alkem Labs said in a filing to BSE.

Revenue from operations stood at Rs 2,192.16 crore for the quarter under review. It was Rs 2,048.99 crore in the same period a year ago, it added.

In the fourth quarter of 2020-21, the company's India sales grew 17.1 per cent year-on-year, recording sales of Rs 1,473.2 crore as compared to Rs 1,257.6 crore in the year-ago period.

For entire fiscal year 2020-21, the net profit stood at Rs 1,617.77 crore as against Rs 1,149.31 crore in the previous year, Alkem Labs said.

Consolidated revenue from operations in the year was Rs 8,865.01 crore. It was Rs 8,344.36 crore in 2019-20, it added.

"Given the challenging backdrop, we performed well in FY21 with about 6 per cent YoY revenue growth, more than 400 basis points improvement in EBITDA margin and about 40 per cent growth in net profit. We also ended the year with a healthy balance sheet with net cash of more than Rs 500 crore," Alkem MD Sandeep Singh said.

In a separate filing, the company said its board has recommended a final dividend of Rs 5 per equity share of Rs 2 each for 2020-21.

The company's board has approved the re-appointment of Dheeraj Sharma as an independent director for the second term of five consecutive years with effect from May 26, 2022, it added The board has also approved the restructuring of the company's subsidiaries in the US, the filing said.

Shares of Alkem Laboratories were trading at Rs 2,899.75 per scrip on BSE, down 3.31 per cent from its previous close.

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