Q3FY24 Quarterly Result Announced for Alembic Pharmaceuticals Ltd.
Alembic Pharmaceuticals announced Q3FY24 results: Financial Summary: - Net Sales: Increased to Rs 1,631 crore in Q3FY24, marking an 8% growth compared to Q3FY23. - Net Profit: Rose by 48% to Rs 180 crore from Rs 122 crore in Q3FY23. - EBITDA: Grew 14% to Rs 269 crore in Q3FY24. Operational Highlights: India Branded Business: - Reported sales of Rs 596 crore, up by 9% for the quarter. - Observed strong performance in Gynecology, Gastrointestinal, Anti Diabetic, and Ophthalmology therapies. - Antibiotic and Respiratory segments continued better performance trends compared to the market. Animal Health Business: - Achieved a growth of 32% YoY. International Business: - US Generics: Saw a 9% increase to Rs 474 crore for the quarter. - Ex-US International Formulations: Recorded a 32% growth, amounting to Rs 272 crore for the quarter. - Received 7 ANDA approvals, reaching a total of 196 cumulative approvals. API Business: - Posted revenues of Rs 289 crore for the quarter. Shaunak Amin, MD, Alembic Pharmaceuticals said, “The India Branded Business was underpinned by a continued incremental improvement in core operations. The Specialty and Animal health segments continued their strong outperformance; whereas the Acute performance was relatively satisfactory despite challenging market conditions. The Ex US generics grew 32% in the quarter, whereas the US returned to a 9% growth on the back of 11 launches and 7 approvals.” Result PDF05-02-2024
