Q2FY25: Alkem Labs profit rises 11% YoY to Rs 689 crore; revenues decline slightly – Healthcare News

Alkem Laboratories on Wednesday announced its standalone and consolidated financial results for the second quarter and six months ended September 30, 2024. The company reported an 11% year-on-year increase in net profit to Rs. . 689 crore in the September quarter. The company reported Rs. 621 crore profit in the corresponding quarter of the previous year.

According to the company’s statement, operating revenue marginally declined by 0.7% year-on-year to Rs. 3,414.6 crore during the quarter under review as against Rs. 3,440 crore in the same quarter last year. last year.

Sales in India stood at Rs. 9,999. 2461 crore, an annual growth of 5.7 percent and international sales were Rs. 9,999. 918.1 crore, with an annual decline of 12.9 percent. According to the company statement, R&D expenses for the quarter stood at Rs. 146.5 crore, or 4.3% of total revenue from operations, compared to Rs. 115.8 crore in Q2FY24-3 .4% of total operations turnover.

“We are pleased to announce that the results of our strategic initiatives designed to improve profitability have proven effective. We are prioritizing a range of high-margin products, aligning more effectively with market demands and implementing cost control measures to mitigate inefficiencies, which support EBITDA margin growth. Domestically, our focus remains on increasing the growth of our major brands and making strategic additions to our portfolio. We also see significant growth opportunities in our emerging markets business,” said Dr. Vikas Gupta, CEO of Alkem.

According to data from IQVIA (SSA), for the second quarter of FY25, the company recorded a growth of 6.3% year-on-year compared to the Indian Pharmaceutical Market (IPM), which grew by 7, 6%.