Alembic Pharma posts profit in Q1FY24; stock hits 52-week high

4 Aug 2023 , 03:03 PM

Alembic Pharma’s counter hit a new 52-week high of Rs 796.30 in today’s trade after the company posted robust performance during the quarter ending June 2023.

The company said its consolidated profit increased to Rs 121 crore in June 2023 quarter, compared to a loss of Rs 65.88 crore during the previous corresponding quarter.

Company’s revenue from Indian businesses jumped 9%, while US business grew by 6%.

Alembic Pharma’s India and US businesses contribute 35% and 26% of total revenue, respectively.

At around 2.56 PM, Alembic Pharma was trading marginally higher at Rs 783, against the previous close of Rs 781 on NSE.

Founded in 1907, Alembic Pharma manufactures medications such as Azithral, which is used to treat bacterial infections and Deltone, an anti-ulcer treatment, as well as active pharmaceutical ingredients (API) for acute and chronic disorders.

The company’s operating revenue increased by roughly 18% to Rs 1,486 crore.

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