Alkem Labs

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Alkem Laboratories on Friday said its consolidated net profit increased by 91 per cent to Rs 550 crore in the first quarter ended June 2024, aided by robust sales. The drug firm had reported a net profit of Rs 288 crore in the April-June quarter of last fiscal. Total income increased to Rs 3,152 crore in the first quarter as against Rs 3,033 crore in the year-ago period, Alkem Laboratories said in a regulatory filing. "We are happy that our efforts to improve profitability have started paying off, and we have seen a marked increase in margins during the quarter," Alkem Laboratories CEO Vikas Gupta said. The company is committed to maximise EBITDA margin by managing product mix, controlling costs, and taking advantage of the favourable raw material pricing environment, he added. "The domestic business is our stronghold, and we expect to build on it by furthering the growth of our large brands and bridging portfolio gaps. Simultaneously, we are also focusing on growing our business

Shares of Alkem Labs gain up to 4.77 per cent at Rs 5,250.30 per share on the BSE in Tuesday's intraday trade

Hailing from Okari, a remote village in Jehanabad district of Bihar, Singh and his brother, Samprada, moved to Mumbai in 1973 to start Alkem Laboratories with a seed capital of Rs 5 lakh

On Wednesday, Alkem Laboratories reported a 313.9 per cent surge in its consolidated net profit, reaching Rs 293.5 crore in the quarter ending March 31, 2024

Alkem Labs sinks on reports of tax evasion: The stock sank to an intra-day low of Rs 4,653 as of 1:15 pm on BSE, its lowest since December 5 when it closed at Rs 4,652

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The 2022 revision of the NLEM came after seven years. Most drugs that have been now brought into the NLEM include anti-infectives, anti-diabetics, anesthetics, etc

The recent price hike, analysts said, brings some respite for the industry facing multiple headwinds such as steep raw inflation, price erosion in the US market and higher freight costs.

The stock price of Alkem Laboratories has broken out on the daily chart

Higher chronic sales, US market could offset some of the weakness in sales growth

Consolidated revenue from operations of the company stood at Rs 2,003.49 crore for the quarter under consideration. It was Rs 1,849.50 crore for the same period a year ago, it added

It notified the company's management of objectionable conditions at the facility

While the trade margins for branded generics are standardised by trade, the margins vary in the case of unbranded generics

The stock that hits a new lifetime high attracts more volumes resulting in higher price levels.

Consolidated total income of the company stood at Rs 1,888.95 crore

It's the third alert to be issued in the past one year for the anti-diabetic drug; but no recall this time

Germany's medical regulator has accused the Mumbai-based firm of data manipulation in some clinical trials

The company said that UK-MHRA has made eight observations following inspection of its Taloja facility