Alembic Pharmaceuticals, a Rs.1,450 crore plus pharma major from Vadodara, has posted satisfactory performance during the first quarter ended June 2012. Its net profit increased by 12.1 per cent to Rs.30.83 crore from Rs.27.56 crore in the corresponding period of last year. The earnings per share improved to Rs.1.64 from Rs.1.46 in the last period.

Its net sales moved up by 6.5 per cent to Rs.366.07 crore from Rs.343.27 crore in the same period of last year. Domestic formulations sales improved by 14 per cent to Rs.197 core from Rs.172 crore. Some of the specialty segments which the company entered recently are showing good progress. It launched a dermatology division during the quarter under review. This will further add to the basket of spepcialty products and growth in the future. Its export sales remained almost stagnant at Rs.139 crore as compared to Rs.137 crore. Its exports of APIs improved by 37 per cent to Rs.83.48 crore from Rs.60.73 crore, while domestic API sales declined by 12.3 per cent to Rs.30.47 crore against Rs.34.75 crore.

Alembic's international generic formulation sales declined by 24.7 per cent to Rs.46.05 crore from Rs.61.15 crore on account of price erosion, product mix and capacity constraint. Cumulative ANDA filings stand at 49 and cumulative ANDA approvals now stands at 20 (including two tentative approvals).