Alembic Pharma Q3 PAT slips 29% YoY; R&D spend at Rs 157 crore

Alembic Pharmaceuticals reported 29% drop in consolidated net profit to Rs 121.92 crore despite a 18.7% rise in net sales to Rs 1509.02 crore in Q3 FY23 over Q3 FY22.

Profit before tax declined 23.05% year on year to Rs 154.49 crore in the quarter ended 31 December 2022.

On the segmental front, API revenue was Rs 326 crore (up 65% YoY). In the Formulations business, US revenue was Rs 432 crore (up 10% YoY), India revenue was Rs 545 crore (up 12% YoY) and Ex-US revenue was Rs 206 crore (up 7% YoY).

EBIDTA fell by 10% to Rs 236 crore in Q3 FY23 from Rs 261 crore in Q3 FY22. EBIDTA margin slipped to 16% in Q3 FY23 as against 21% in Q3 FY22.

R&D expenses aggregated to Rs 157 crore during the quarter while Capex spend stood at Rs 113 crore.

Pranav Amin, managing director, Alembic Pharmaceuticals, said: The company witnessed topline growth across all the verticals. In particular, the API business outperformed with a 65% growth during the quarter.

Alembic Pharmaceuticals is a vertically integrated research and development pharmaceutical company. The company manufactures and markets generic pharmaceutical products all over the world.

The scrip rose 0.68% to currently trade at Rs 543.65 on the BSE.

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