Alembic Pharmaceuticals, a Rs.1,500 crore pharma major from Vadodara, has posted impressive financial performance during the second quarter ended September 2013 and its net profit has taken a jump of 45.1 per cent to Rs.61.64 crore from Rs.42.49 crore in the similar period of last year. The company's consolidated net sales improved by 19.7 per cent to Rs.485.90 crore from Rs.405.80 crore. Alembic scrip moved up by Rs.3.30 in the afternoon session on BSE to Rs.181 on account of strong growth bottom line.
The sales of branded domestic formulations business improved by 10 per cent to Rs.241 crore as compared to Rs.219.86 crore. Its speciality and acute segments grew by 24 per cent versus industry growth rate of 11 per cent 3 per cent respectively.
Alembic's international generic formulation division achieved strong growth of 123 per cent and posted sales of Rs.113.67 crore against Rs.51.01 crore. The company filed 2 ANDA taking cumulative ANDA filings to 59. It received one ANDA approval during the quarter and its cumulative ANDA approvals stood at 30 ANDAs.
For the first half ended September 2013, Alembic's consolidated net sales increased by 18.2 per cent to Rs.912.50 crore from Rs.771.87 crore in the same period of last year. Its net profit moved up 47.7 per cent to Rs.108.28 crore from Rs.73.33 crore and EBDITA by 40 per cent to Rs.164.41 crore from Rs.117.42 crore. R&D expenditure went up by 88 per cent to Rs.56.22 crore from Rs.29.91 crore.