Alembic Pharmaceuticals, a Rs.2,000 crore plus pharmaceutical giant from Vadodara, has put up good show during the third quarter ended December 2015 and its consolidated net profit went up sharply by 281 per cent to Rs.269.49 crore from Rs.70.66 crore in the similar quarter of last year. Its net sales improved by 80.2 per cent to Rs.921 crore from Rs.511 crore. EPS improved to Rs.14.30 from Rs.3.75 in the last period.
With strong growth in bottom line, Alembic scrip moved up by almost 7 per cent to Rs.625.65 on BSE, a jump of Rs.38.10.
Alembic's international sales improved by 248 per cent to Rs.521 crore and its domestic sales up by 15 per cent to Rs.288 crore. API sales improved by 24 per cent to Rs.101 crore. The Sikkim plant commission during the quarter under review Its specialty segment grew by 22 per cent as cardiology sales up by 34 per cent, anti-diabetic sales by 43 per cent and gynaecology segment sales grew by 29 per cent.
Its R&D expenditure increased by 129 per cent to Rs.70.12 crore from Rs.30.51 crore in the corresponding quarter of last year. It filed 3 ANDAs and received approval for 2 ANDAs during third quarter. It also filed 4 DMFs. The cumulative ANDA filings reached at 74 and DMF at 79.
Shaunak Amin, joint managing director, said, “We have seen exceptional growth in all our businesses. The US business continues to outperform on the back of the Aripiprazole generic launch. Our facilities have been in compliance and we have received 11 ANDA approvals this year.”
For the first nine months ended December 2015, Alembic's consolidated net sales improved by 61.9 per cent to Rs.2,511 crore from Rs.1,551 crore in the same period of last year. Its net profit went up by 195.5 per cent to Rs.628 crore from Rs.213 crore. Its international formulation sales has taken quantum jump of 192 per cent to Rs.1,271 crore from Rs.435 crore and Indian branded sales increased by 12 per cent to Rs.836 crore from Rs.749 crore. APIs sales increased by 26 per cent to Rs.358 crore from Rs.285 crore. However, its sales of generics in India declined by 19 per cent to Rs.74 crore from Rs.91 crore.