Alembic Pharmaceuticals' profit jumps 37% in Q1; stock up 2% - Highlight Investment Research

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Monday, 29 July 2019

Alembic Pharmaceuticals' profit jumps 37% in Q1; stock up 2%

Alembic Pharmaceuticals Limited, a vertically integrated research and development pharmaceutical company, reported its consolidated financial results for the quarter ending June 30, 2019. The company’s net profit jumped 37% in Q1FY20 to Rs124cr from Rs90cr in the same period previous fiscal.

For the quarter, EBITDA stood at Rs233cr, a growth of 54% yoy vs. Rs155cr over the corresponding quarter of the previous year.

Net sales were up 10% at Rs949cr in Q1 and Profit before exceptional items & tax up 58% to Rs192cr.

Pranav Amin, Managing Director, Alembic Pharmaceuticals Limited said "It was a good quarter for the company backed by exceptional growth in the US market. Our Oncology Manufacturing Facility was inspected by the USFDA with no observations."



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