Conference Call with Alkem Laboratories Management and Analysts on Q1FY24 Performance and Outlook. Listen to the full earnings transcript.
Pharmaceuticals company Alkem Laboratories announced Q1FY24 results: Total revenue from operations was Rs 29,677 million, YoY growth of 15.2% India sales were Rs 19,007 million, YoY growth of 6.7% International sales were Rs 10,146 million, YoY growth of 33.4% Earnings before interest, tax, depreciation, and amortization (EBITDA) was Rs 3,892 million, resulting in an EBITDA margin of 13.1% vs. 7.9% in Q1FY23. EBITDA increased by 91.5% YoY. R&D; expenses for Q1FY24 were Rs 1,202 million, or 4.1% of total revenue from operations compared to Rs 1,320 million in Q1FY23 at 5.1% of total revenue from operations. Profit before tax (PBT) was Rs 3,529 million, a growth of 132.3% compared to Q1FY23. Net profit (after Minority Interest) was Rs 2,867 million, YoY growth of 124.6%. Commenting on the results, Sandeep Singh, Managing Director, Alkem said, "We are starting the year on a healthy note, showcasing better operational performance driven by improved margins resulting from softening of select raw material prices, favourable currency impact, easing of freight cost and implementation of some of our cost optimization efforts. Our acute business growth was impacted by the delayed onset of monsoon in certain parts of the country, yet we maintain an optimistic outlook for improved growth in Q2. International business achieved robust sales during the quarter, driven by substantial growth in our US operations and complemented by strong performance in non-US markets. Our biosimilar franchise, Enzene is steadily expanding its product portfolio in India, with two successful launches this quarter, bringing the total count of products to six—an impressive achievement for the company. Our cost optimization initiatives have started yielding tangible results and we remain committed to further unlocking operational efficiencies going forward.” Result PDF