The drug firm reported a 45.42 per cent decline in its consolidated net profit to Rs 164.52 crore for the quarter ended June 30, 2021, it said in a regulatory filing. The company had posted a net profit of Rs 301.46 crore in the same quarter previous year.
Shares of Alembic Pharmaceuticals declined 10 per cent to Rs 822.60, its new 52-week low, on Tuesday. BSE Sensex was trading 65.97 points, or 0.12 per cent, higher at 52,918.24 at the same time. The scrip settled at Rs 910.75 on Monday.
Consolidated revenue from operations stood at Rs 1,326 crore for the quarter under consideration. It was Rs 1,341 crore for the same period a year ago, it added.
The total expenses incurred by the company for the quarter ended June 30, 2021, stood at Rs 1,145.37 crore. It was Rs 982.13 crore for the year-ago period, the filing said.
Shares of Alembic Pharma have underperformed the broader markets in the ongoing calendar year. The counter has declined up to 20 per cent in 2021. It scrip has shed 16 per cent in the last one month.
The US generics business registered a degrowth of 38 per cent to Rs 369 crore during the period under reviews. Alembic Pharma generated Rs 596 crore for the corresponding period a year ago.
The India branded business for the quarter under consideration grew by 57 percent to Rs 481 crore. It was Rs 306 crore for the same period of the previous fiscal. API business grew 6 percent to Rs 279 crore in the quarter, the filing said.
