Alembic Pharmaceuticals Records Impressive Q1 Profit of Rs 120.6 Crore, India Revenues Grow by 9 per cent

Alembic Pharmaceuticals, based in New Delhi, released its financial report for the first quarter ending in June, showing impressive performance. The company reported a consolidated net profit of Rs 120.6 crore, a significant improvement compared to the same quarter in the previous fiscal year when it had incurred a consolidated net loss of Rs 65.88 crore. This turnaround reflects the company's strong growth and operational efficiency.

During the quarter, the company's consolidated revenue from operations reached Rs 1,486.15 crore, marking a notable increase from Rs 1,262.14 crore in the corresponding quarter of the previous year, showcasing a growth rate of 17.7 per cent Total expenses for the first quarter of the current fiscal were marginally higher at Rs 1,368.03 crore compared to Rs 1,323.3 crore in the same quarter last fiscal.The company's performance was driven by growth in both the Indian and US markets.

In India, revenues surged by 9 percent to Rs 524 crore, while the US generics segment also saw substantial growth, reaching Rs 390 crore, representing a growth rate of 6 percent.Additionally, Alembic Pharmaceutical's active pharmaceutical ingredients (API) vertical exhibited impressive growth, achieving a remarkable 31per cent increase at Rs 305 crore.Expressing satisfaction with the results, Alembic Pharmaceutical's Managing Director, Pranav Amin, highlighted the company's growth in all business segments, with India's performance notably outperforming the market with 9 per cent growth.The company's strong Q1 performance reflects its effective strategies and strong positioning in the pharmaceutical industry, setting a positive outlook for future growth and success.

With Inputs from PTI