Alembic Ltd, a Rs 650-crore Gujarat based pharma major, notched up better performance during the first quarter ended June 2006 on account of lower interest, depreciation charges and written back of provision for taxation. Its net profit went up by 68.5 per cent to Rs 18.25 crore from Rs 10.83 crore in the corresponding period of last year. The net sales moved up by 8 per cent to Rs 146.09 crore from Rs 135.22 crore. Exports touched to Rs 39.05 crore as against Rs 27.16 crore. Earning per share worked out to Rs 6.59 as compared to Rs 3.91.
Though the company's EBDIT declined to Rs 21.57 crore during period under review from Rs 22.32 crore, the lower provision for interest and depreciation pushed the profit before tax to Rs 14.17 crore from Rs 12.40 crore. Interest burden came down to Rs 0.68 crore from Rs 2.78 crore and depreciation provision was at Rs 6.72 crore as compared to Rs 7.14 crore in the corresponding period of last year. Further, written back of provision of income tax of earlier years of Rs 5.87 crore pushed the bottom line.
Meanwhile, the board of directors has approved to split the ace value of the equity shares of the company from Rs 10 per share to Rs 2 per share.
The company net sales for the year ended March 2006 amounted to Rs 639 crore and it earned a net profit of Rs 78.52 crore. As against the equity capital of Rs 27.69 crore its reserves stood at Rs 302.74 crore.