Q3FY23 Quarterly Result Announced for Alkem Laboratories Ltd.
Alkem Laboratories announced Q3FY23 results: Q3FY23: Total revenue from operations was Rs 30,409 million, YoY growth of 16.1% India sales were Rs 19,922 million, YoY growth of 9.7% International sales were Rs 9,928 million, YoY growth of 28.8% EBITDA was Rs 5,990 million, resulting in an EBITDA margin of 19.7% vs 19.0% in Q3FY22. EBITDA grew by 20.2% YoY R&D; expenses for the quarter were Rs 1,297 million, or 4.3% of total revenue from operations compared to Rs 1,449 million in Q3FY22 at 5.5% of total revenue from operations. Profit before tax (PBT) was Rs 5,389 million, a growth of 16.2% compared to Q3FY22 Net profit (after minority interest) was Rs 4,547 million, YoY decline of 13.5% 9MFY23: Total revenue from operations was Rs 86,967 million, YoY growth of 6.7% India sales were Rs 59,898 million, YoY growth of 5.3% International sales were Rs 25,823 million, YoY growth of 9.1% EBITDA) was Rs 12,562 million, resulting in EBITDA margin of 14.4% vs 21.1% in 9MFY23. EBITDA declined by 26.8% YoY R&D; expenses for 9MFY23 was Rs 3,922 million, or 4.5% of total revenue from operations, compared to Rs 4,039 million in 9MFY22 at 5.0% of total revenue from operations. Profit before tax (PBT) was Rs 10,931 million, a decline of 31.7% compared to 9MFY22 Net profit (after minority interest) was Rs 9,132 million, YoY decline of 40.6% Commenting on the results, Sandeep Singh, Managing Director, Alkem said, “Building on the pace of Q1 and Q2, our domestic branded franchise delivered strong growth in Q3, beating market by more than 600 basis points [16.7% Alkem Vs 10.0% IPM]. After two quarters of subdued performance, our US business posted strong growth in Q3 on the back of a good season. In a recent development, our biosimilar franchise, Enzene Biosciences, raised about Rs 161 crore and partnered with Eight Roads Ventures and F-Prime Capital. This further instils our confidence and reaffirms our journey towards building a leading global biologics company that leverages innovation to enhance global health. During the quarter, the company generated healthy cash flows in excess of Rs 5 billion, which has helped us further strengthen our balance sheet with strong net cash position of Rs 19 billion.” Result PDF10-02-2023
