Alembic Pharma Q3 net profit at Rs 86.55 cr

Drug firm Alembic Pharmaceuticals today reported a consolidated net profit of Rs 86.55 crore for the quarter ended December 31, 2016.
The company had posted a net profit of Rs 268.87 crore in the year-ago period, Alembic Pharmaceuticals said in a BSE filing.
Its consolidated total income from operations during the quarter under review also fell to Rs 777.03 crore from Rs 930.89 crore a year ago.
"The previous period includes revenues and profits from the Aripiprazole generic launch in the US market, which had limited competition. Hence the numbers are strictly not comparable," Alembic Pharmaceuticals said in a filing to BSE.

Commenting on the results, Alembic Pharmaceuticals MD Pranav Amin said: "Our base business in the US is doing well. We will continue to invest in R&D for future growth and have spent Rs 117 crore in the quarter..."
Shares of Alembic Pharmaceuticals were trading 0.56 per cent lower at Rs 582.15 ascrip on BSE.