By: IPP Bureau
Last updated : August 03, 2021 7:04 pm
The US business faced price erosion due to increased competition.
Alembic Pharmaceuticals has reported total income of Rs.1327.91 crores during the period ended June 30, 2021 as compared to Rs.1284.34 crores during the period ended March 31, 2021.
The company reported total income Rs.1341.64 crores during the period ended June 30, 2020.
The company has posted net profit of Rs.164.52 crores for the period ended June 30, 2021 as against net profit of Rs.250.70 crores for the period ended March 31, 2021. It posted net profit of Rs.301.46 crores for the period ended June 30, 2020.
Pranav Amin, Managing Director, Alembic Pharmaceuticals Limited said "The India business grew exceptionally well and outpaced the Industry, we hope to see this momentum continuing due to the initiatives undertaken recently. The US business faced price erosion due to increased competition. However, our long term view of the US market remains intact."