Alembic Pharma Q1 net profit up 51%

Company posted net profit of Rs 30.83 crore for the corresponding period previous fiscal

Alembic Pharmaceuticals today reported a 51.28% rise in its consolidated net profit to Rs 46.64 crore for the quarter ended June 30, 2013 on the back of robust sales.

The company had posted a net profit of Rs 30.83 crore for the corresponding period previous fiscal.

Total income rose to Rs 427.16 crore for the quarter under consideration as against Rs 366.63 crore for the same period year ago, Alembic Pharmaceuticals said in a filing to BSE.

Domestic branded formulations business grew by 15% to Rs 196 crore for the quarter ended June 30, 2013 from Rs 170 crore for the corresponding quarter of the previous fiscal, Alembic said.

International generics grew by 86% to Rs 85 crore for the quarter under consideration as against Rs 46 crore for the same quarter previous fiscal, it added.

The company's API business also grew to Rs 87 crore for the quarter ended June 30, 2013 from Rs 83 crore for the corresponding quarter last fiscal.

Shares of Alembic Pharmaceuticals were today trading at Rs 154.25 in the afternoon trade on BSE, up 0.92% from its previous close.