Alkem Laboratories Q1 profit rises 17.12% to Rs238.79 crore
Net sales of Alkem Laboratories stood at Rs.1,439.36 crore in the June quarter as against Rs.1,196.03 crore in the year-ago period
New Delhi: Alkem Laboratories on Friday reported 17.12% increase in consolidated net profit at Rs.238.79 crore for the first quarter ended 30 June. The company had posted a consolidated net profit of Rs.203.87 crore in the same quarter last fiscal year, Alkem Laboratories said in a BSE filing.
Net sales during the period under review stood at Rs.1,439.36 crore as against Rs.1,196.03 crore in the year-ago quarter, it added. Domestic business sales in June quarter of this fiscal year grew 22.4% at Rs.1,080.3 crore as compared with Rs.882.7 crore in the year-ago period.
International business sales were higher by 14.55% at Rs.359 crore as compared with Rs.313.4 crore in the year-ago period. “June quarter of this fiscal has been an impressive start to the year for the company with a good all-round performance. Despite regulatory headwinds in the form of NLEM (national list of essential medicines), WPI (Wholesale Price Index)-led price cuts, we have delivered a robust and a broad-based growth,” Alkem CEO Prabhat Agrawal said.
He further said the company has also worked on various cost optimization measures, which along with operating leverage has helped it offset the adverse impact of regulatory price cuts on Ebidta margins. Ebitda is short for earnings before interest, taxs, depreciation and amortisation, “Further, we also successfully closed the regulatory issues with the UK MHRA at our Taloja bio-equivalence centre,” Agrawal said.
Company’s R&D expenses for the quarter were at Rs.78.8 crore or 5.4% of net operating income, Alkem Laboratories said.
As on 30 June, the company has filed a total of 76 ANDAs and one new drug application with the USFDA, for which 32 are para IV filings, including first to file, it said.
Shares of Alkem Laboratories fell 1.77% to Rs.1,561.40 apiece on BSE, while the benchmark Sensex gained 1.05% to 28,152.40 points.