Pharmaceuticals firm Alkem Laboratories Announced Q1FY23 Result :

• Total Revenue from Operations was Rs 25,764 million, YoY decline of 5.7%
  • India sales were Rs 17,815 million, YoY decline of 6.7%
  • International sales were Rs 7,604 million, YoY decline of 3.8%
• Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) was Rs 2,032 million, resulting in EBITDA margin of 7.9% vs. 21.7% in Q1FY21. EBITDA declined by 65.7% YoY
• R&D expenses for the quarter was Rs 1,320 million, or 5.1% of total revenue from operations compared to Rs 1,183 million in Q1FY22 at 4.3% of total revenue from operations
• Profit before tax (PBT) was Rs 1,519 million, a decline of 72.7% compared to Q1FY22
• Net Profit (after Minority Interest) was Rs 1,276 million, YoY decline of 72.7%

Commenting on the results, Sandeep Singh, Managing Director, Alkem said, “We are starting the new fiscal year on a positive note, with yet another market beating performance in domestic market adjusting for huge base of last year [CAGR of 13.4%, Q1FY20-Q1FY23]. However, headwinds from price erosion in US market and inflationary environment has impacted margins for the quarter. As we move ahead, we remain focused on our journey of expanding margins through productivity improvement and various cost optimization initiatives across the organization. Our biosimilar franchise is shaping up well and we are looking forward to some exciting launches going ahead.”

Result PDF