Alembic Pharma Q1 net up 8% to about Rs 70 cr

Alembic Pharmaceuticals today reported 8.05 per cent rise in consolidated net profit to Rs 69.88 crore for the first quarter ended June 30, 2015-16, mainly on account of robust sales.

The company had posted a net profit after taxes, minority interest and share of profit of associates of Rs 64.67 crore for the April-June period of 2014-15, Alembic said in a filing to the BSE.

Consolidated total income from operations of the company rose to Rs 583.34 crore for the quarter under consideration as against Rs 494.28 crore for the year ago period.

Alembic Pharmaceuticals Joint MD Shaunak Amin said: "We have seen exceptional growth in the top line of our business, we however have also accelerated our R&D programme, which led to an expense increase of 62 per cent which has impacted our margins."

The research and development expenses of the company stood at Rs 47.95 crore for the quarter ended June 30, 2015 as against Rs 29.53 crore for the same period of the previous fiscal.

The company's India branded formulations business grew by 18 per cent to Rs 263 crore during the quarter as against Rs 223 crore for the same period year ago.

The international generic business grew by 47 per cent to Rs 167.68 crore for the quarter ended June 30, 2015. It was Rs 113.81 crore for the corresponding quarter of the previous fiscal.

Alembic stock was trading at Rs 714.95, down 4.16 per cent, on the BSE.