Alkem Q1 PAT up 124% at ₹286.73 crore

livemint.com:

Alkem Laboratories Limited, on Thursday, reported a 124.6% year-on-year surge in its profit after tax (PAT) at ₹286.73 crore for the June quarter. Revenue from operations stood at ₹2,967.7 crore in the first quarter of the current fiscal year, up 15.2%. The company’s earnings before interest, tax, depreciation and amortization (Ebitda) was ₹389.2 crore, while Ebitda margin stood at 13.1%.

Research & development (R&D) expenses for the quarter were Rs1 20.2 crore, or 4.1% of total revenue from operations compared to ₹ 132 crore in the same quarter last fiscal year at 5.1% of total revenue from operations. The cost of raw materials also increased to ₹832.58 crore from ₹692.41 crore. Sandeep Singh, managing director, Alkem said "We are starting the year on a healthy note, showcasing better operational performance driven by improved margins resulting from softening of select raw material prices, favourable currency impact, easing of freight cost and implementation of some of our cost optimization efforts.

And these initiatives have started yielding tangible results and we remain committed to further unlock operational efficiencies going forward." The pharma company’s international business recorded a 33.4% growth at ₹1,014.6 crore in Q1 FY24. Out of this, the US market alone accounted for ₹696.5 crore, while other international markets contributed ₹319.1 crore. “International business achieved robust sales during the quarter, driven by substantial growth in our US operations and complemented by strong performance in non-US markets," he added.