 "Alembic Pharma Q2 net up 54%")
For the first half of the fiscal the company posted net sales of Rs 912 crore, up from Rs 745 crore in the year before period. Profit after tax for the first half stood at Rs 113.30 crore up 65 per cent to Rs 113.30 crore. R K Baheti, director, finance, Alembic Pharmaceuticals said that the company would continue to focus on international markets in coming quarters.
On a consolidated basis, the company posted a 45 per cent rise in net profit during the quarter to Rs 61.64 crore while the net sales grew by 20 per cent on a year-on-year (yoy) basis to Rs 488 crore. International generic formulations sales during the quarter was up 123 per cent to Rs 114 crore as against Rs 51 crore in the corresponding quarter previous year, said a company release. Domestic branded formulation sales was up 10 per cent during the quarter to Rs 241 crore.
During the quarter two abbreviated new drug applications (ANDAs) were filed taking the cumulative number of ANDA filings to 59. One ANDA approval was received during the quarter.
Sarabjit Kour Nangra, vice president-research-pharma, Angel Broking said, "Alembic Pharmaceuticals posted good set of numbers both on the top-line and bottom line. The top line came in at Rs 484 crore for 2QFY2014 versus expectations of Rs 456 crore. The domestic formulation grew by 10 per cent yoy, while the international generics and branded grew by 123 per cent and 65 per cent yoy respectively. Its operating profit margins came in at 19.1 per cent versus expectation of 15.6 per cent and a expansion of 3.4 per cent yoy .The net profit came in at Rs 61.6 crore grew by 45.1 per cent yoy on account of an expansion in the operating profit margin."