BackAlembic posts 9% rise in Q3 net profit
The drug maker posts `48.27 crore net profit in December quarter, revenue falls to `372.05 crore
Premium(Vadodara-based Alembic Pharmaceuticals has a 1.76% share of India’s `60,000 crore domestic drug market.)
Mumbai: Vadodara-based drug maker Alembic Pharmaceuticals Ltd posted a 9% growth in net profit for the December quarter to ₹ 48.27 crore, though revenue fell to ₹ 372.05 crore from ₹ 382.82 crore a year earlier.
Alembic, India’s first private drug maker, established in 1950, saw a 15% rise in domestic revenue to ₹ 227.64 crore despite a general decline in the country’s pharmaceutical sales during the quarter. The company has a 1.76% share of India’s ₹ 60,000 crore domestic drug market.
The share price of Alembic dropped 1.7% to ₹ 69.9 in intra-day trading on BSE Ltd on Monday, in a nearly unchanged overall market.
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