Pharmaceutical company Alkem Laboratories on Wednesday recorded fiscal fourth quarter profit at Rs 293.56 crore, up 313.6 per cent in comparison to Rs 70.98 crore during the corresponding quarter of FY23. It posted revenue from operations at Rs 2935.82 crore, marginally higher as compared to Rs 2902.60 crore recorded during the same period last year. The company EBITDA stood at Rs 402 crore, up 13.8 per cent on-year.
The board of members at Alkem Laboratories recommended a final dividend of Rs 5 per equity share of Rs 2 each for financial year ended 31 March, 2024, for the approval of shareholders of the company at the ensuing Annual General Meeting. The pharma company said that the AG of the company shall be held on 30 August, 2024. For the payment of final dividend, the company fixed 10 August, 2024 as the record date. The dividend, if declared by the shareholders, shall be paid on and from 4 September, 2024, it said.
Dr Vikas Gupta, CEO, Alkem, said, “Our focus has been to improve EBITDA margin during the year, on the back of benefits through various cost-control initiatives being implemented along with favourable API prices. Continuing our trend of improved performance, Q4FY24 builds on the momentum gained from previous quarters with significant gross margin enhancements backed by lower raw material cost and lower intensity of price erosion in the US. Lower Opex across our manufacturing facilities and R&D also aided EBITDA margin. Our Biosimilars and international business has delivered strong growth across geographies. Our anti-diabetic portfolio continues to outperform the market. We are committed to carrying forward the momentum of better operational performance, building on our recent success.”
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While the India sales during the quarter in review were at Rs 1972.40 crore, down 1.9 per cent on-year, the international sales came in at Rs 909.60 crore, down 6.1 per cent YoY. For the full year, India sales were at Rs 8433.70 crore, down 5.4 per cent, and international sales stood at Rs 4002.40 crore, down 16.4 per cent.
As per secondary sales data by IQVIA, for Q4FY24, the company delivered a YoY growth of 1.4 per cent compared to Indian Pharmaceutical Market (IPM) growth of 5.7 per cent YoY. “We outperformed the IPM in Anti-diabetic, Derma, and VMN therapies and our ranking has improved in therapies like cardiac and VMN,” the company said.
In international sales, US sales for Q4FY24 stood at Rs 624.10 crore, up 5.5 per cent. Other International Markets sales for the quarter was Rs 285.50 crore, up 7.6 er cent.
Alkem Laboratories’ R&D expenses for the quarter was at Rs 175.70 crore or 6 per cent of total revenue from operations in comparison to Rs 147.20 crore during Q4FY23, which was 5.1 per cent of total revenue from operations.
From: financialexpress
Financial News
