Alembic Pharma posts Rs 121 crore net profit in Q1FY24
The company reported a net loss of Rs 66 crore during the corresponding period of previous year. Net sales grew 18% year-on-year (YoY) to Rs.1486 crores for Q1FY24. Earnings before interest, tax, depreciation and ammortisation (EBITDA) rose 31% YoY to Rs 319 crore, while the EBITDA margins expanded 200 basis points on YoY basis to 21%.
“The company grew in all the business segments with India outperforming the market with 9% growth, ex-US generics grew 46%, API grew 31% and the US generics business grew 6%," Pranav Amin, MD of Alembic Pharma said. «We have also started commercializing products from our oncology and injectable facilities,” Amin added. India branded business recorded 9% YoY growth to Rs 524 crores for Q1 FY24.
US generics saw 6% YoY growth to Rs 354 crore. »Launches from new facilities to drive growth in upcoming quarters," Amin said. Export markets outside the US grew 46% on YoY to Rs 249 crore.
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