During the quarter, India sales were at Rs 2,022.3 crore (up 6.4% YoY) while International sales stood at Rs 967.7 crore (down 4.6% YoY).
US sales for Q1 FY25 stood at Rs 641.6 crore, registering a decline of 7.7% YoY. Other International Markets sales rose 2.2% to Rs 326.1 crore during the quarter.
Profit before tax stood at Rs 619.36 crore in June 2024 quarter, up 75.53% from Rs 352.85 crore posted in similar quarter a year ago.
During the quarter, EBITDA stood at Rs 608.6 crore, registering a growth of 56.4% YoY. EBITDA margin improved to 20.1% in Q1 FY25 as against 13.1% posted in the same period last year.
R&D expenses for the quarter increased 4.58% to Rs 125.7 crore in Q1 FY25, 4.1% of total revenue from operations.
As per IQVIA data, for first quarter of FY24, the company registered a growth of 8.4% YoY versus the Indian Pharmaceutical Market (IPM) which grew by 8.7%
The company outperformed the IPM in antidiabetic, neuro/CNS, gastro-intestinal, dermatology, and VMN therapies, and our ranking has improved in neuro/CNS and respiratory therapies.
During the quarter, the company launched 1 product in the US and received approval for 3 abbreviated new drug applications (ANDAs) from the USFDA, including one tentative approval.
As of 30 June 2024, the firm had filed 176 ANDAs and 2 NDAs with the USFDA. Of these, it had received approvals for 148 ANDAs (including 14 tentative approvals) and 2 NDA.
Dr Vikas Gupta, CEO, Alkem said, “We are happy that our efforts to improve profitability have started paying off, and we have seen a marked increase in margins during the quarter. We are committed to maximising our EBITDA margin by carefully managing our product mix, controlling costs, and taking advantage of the favourable raw material pricing environment.
The domestic business is our stronghold, and we expect to build on it by furthering the growth of our large brands and bridging portfolio gaps. Simultaneously, we are also focusing on growing our business in emerging markets. During the quarter, an important development was the successful resolution of US FDA’s Form 483 at the Baddi facility. At Alkem, we remain steadfast to prioritising quality and regulatory compliance.”
Alkem Laboratories is engaged in pharmaceutical business with global operations. The company is engaged in the development, manufacture and sale of pharmaceutical and nutraceutical products.
Shares of Alkem Laboratories declined 0.36% to currently trade at Rs 5,667 on the BSE.
13 mins read . Nov 19, 2024
16 mins read . Nov 19, 2024
14 mins read . Nov 8, 2024
