Alembic Pharma Q2 net up 12%

Vadodara based drugmaker Alembic Pharmaceuticals Ltd posted a 12 per cent growth in net profit for the quarter ended September 30 at Rs 42.49 crore against Rs 38.04 crores in corresponding quarter last fiscal on the back of growth in domestic formulation sales. Net sales during the quarter grew by 2 per cent to Rs 407.53 crore, up from Rs 398.05 crore in the corresponding quarter last year. The company also reported 4 per cent increase in revenue for first half of operations to Rs 775.59 crores against Rs 742.77 crores corresponding first half last year. The Domestic formulations business posted sales of Rs 253.87 crore against Rs 226.92 crores with a 12 per cent growth over corresponding quarter of the previous year.