Alkem Labs Q1 profit jumps 2-fold to Rs 423.2 cr, revenue up at Rs 2,004 cr
Drug firm Alkem Laboratories on Friday reported more than two-fold jump in its consolidated net profit to Rs 423.19 crore for the quarter ended on June 30, 2020, mainly on account of robust sales in the US.
The company had posted a net profit of Rs 187.29 crore for the corresponding period of the previous fiscal, Alkem Laboratories said in a BSE filing.
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.
“The company delivered a resilient performance led by strong growth in its US business,” Alkem Laboratories MD Sandeep Singh said.
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While the India business was impacted by lockdown, the company maintained its outperformance in its key established therapies of anti-infectives and gastro-intestinal. Superior revenue mix and savings on marketing activities helped the company register strong EBITDA (Earnings Before interest, taxes, depreciation and amortisation) margins, he added.
In the first quarter of FY2021, the company’s India sales declined 5.5 per cent to Rs 1,155 crore as compared to Rs 1,222.2 crore in first quarter of FY2020 due to the impact of Covid-19 led lockdowns, the filing said.
Company’s international sales grew by 32.8 per cent year-on-year to Rs 785.3 crore in the first quarter as compared to Rs 591.2 crore in the same period a year ago, led by US sales, it added.
Shares of Alkem Laboratories closed at 2,980.30 on BSE, up 4.06 per cent from the previous close.
