Alembic Pharma posts ₹180cr Q3 profit

Ahmedabad: Vadodara-based Alembic Pharmaceuticals posted Rs180 crore of profit in the third quarter of FY 2024, backed by strong domestic and US market sales. The generic drug manufacturer’s profit rose 47.5% during the quarter as compared to Rs 122 crore in the year-ago period.
Easing price erosion in the US market helped Alembic’s surge in sales. Other Pharma majors also benefited from their US market sales as the price erosion pressures eased off.The company’s revenue from operations during the quarter settled at Rs 1,631 crore, up 8% against the corresponding quarter of FY 2023.
This was led by the company’s India branded business which grew at 9% during the quarter and a similar 9% growth in the US generics business, the company’s investor presentation states. Alembic’s India and US business constitute about 37% and 29% of its total revenue, respectively.
Alembic’s active pharmaceutical ingredients (API) business fell 11% during the quarter to Rs 289 crore. tnn