Alembic Pharmaceuticals Q4 Results: Profit Rises 17%, Beats Estimates
The company posted a profit of Rs 178.21 crore in the quarter-ended March 31, 2024.
Alembic Pharmaceuticals Ltd.'s consolidated net profit increased in the fourth quarter of fiscal 2024, beating analysts' estimates.
Net profit of the company rose 16.78% year-on-year to Rs 178.21 crore in the quarter-ended March 31, 2024, as compared with Rs 152.6 crore in the year-ago period, according to an exchange filing on Thursday. Analysts tracked by Bloomberg had estimated a profit of Rs 150.47 crore.
Alembic Pharma Q4 FY24 Highlights (Consolidated, YoY)
Revenue up 7.85% to Rs 1,516.98 crore versus Rs 1,406.45 crore (Bloomberg Estimate: Rs 1,598 crore).
Ebitda up 22.54% to Rs 260.06 crore versus Rs 212.22 crore (Bloomberg Estimate: Rs 252.67 crore).
Margin at 17.14% versus 15.08% (Bloomberg Estimate: 15.8%).
Net profit up 16.78% to Rs 178.21 crore versus Rs 152.6 crore (Bloomberg Estimate: Rs 150.47 crore).
Other Highlights
India branded business recorded 3% growth, with top line of Rs 530 crore for Q4 FY24.
US generics grew 19% YoY, led by seven new launches in the quarter and market share gain in the recently commercialised products. Products from new facilities to drive growth in upcoming quarters.
Ex-US generics business recorded YoY growth of 5%, with top line of Rs 262 crore in Q4 FY24. Growth momentum will continue in FY25, backed by strong order book, it said.
API grew 5% YoY, led by high offtake and better product mix. Demand outlook remains strong.
“India branded business continues to work on improving the execution ability, both in quality and scale. The specialty and animal health segment witnessed robust growth," said Shaunak Amin, managing director of Alembic Pharmaceuticals.
The outlook for the US business appears better, with the commercialisation of new facilities and launches set to scale up, along with continued progress in achieving cost improvements. The ex-US generics and the API business maintained steady continuous growth, he said.
Shares of Alembic Pharma were trading 1.19% lower at Rs 991.9 apiece on the NSE, as compared with a 1.15% advance in the benchmark Nifty 50.
