Alembic Pharma's PAT Slumps By 29% YoY In Q3FY23

Alembic Pharmaceuticals, the Indian pharma company headquartered in Vadodara on Wednesday announced its consolidated financial results for the third quarter that ended 31st December 2022, the company registered a 18 per cent rise in its consolidated revenues year on year. The company's revenue for the third quarter stood at Rs 1,509 crores against Rs 1,271 crores in the same quarter last year.

Alembic recorded a Profit After Tax (PAT) of Rs 122 crores in quarter three of the financial year 2023 (Q3FY23) against Rs 171 crores recorded in the corresponding quarter in the previous year, a 29 per cent slump year on year.

The pharma company informed that its India formulations business grew at 12 per cent YoY to Rs 545 crores in the quarter reflecting performance better than the industry, both in Specialty and Acute segments. Whereas Alembic's US Generics grew by 10 per cent YoY to Rs 432 crores in the quarter, and its API business grew 65 per cent YoY at Rs 326 crores in the December quarter.

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 per cent growth during the quarter”