Share price of Alembic Pharmaceuticals hit its all-time high on Friday after the firm reported 81 per cent rise in its consolidated net profit on account of robust sales in international markets. Alembic Pharmaceuticals share price gained up to 15.61% to Rs 807 compared to the previous close of Rs 698.55 on BSE.
Total 1.71 lakh shares changed hands amounting to turnover of Rs 13.02 crore on BSE. The mid cap stock has gained 27.63% in last 3 days. Alembic Pharma share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
The pharma stock has gained 55.45% in one month and 26.86% in last one week. The stock has risen 47.92% in last one year and 37.23% since the beginning of this year.
It hit 52 week low of Rs 435 on June 21, 2019. The Gujarat-based firm reported a net profit of Rs 224.93 crore in Q4 of last fiscal compared to net profit of Rs 124 crore for the corresponding period of the previous fiscal. Consolidated revenue from operations of the company rose to Rs 1,206.83 crore for the quarter under consideration as against Rs 926.95 crore for the same period a year ago.
Consolidated net profit of the company rose to Rs 829.12 crore for the fiscal year ended March 31, 2020 against Rs 584.37 crore for the previous fiscal year.
Consolidated revenue from operations for the fiscal year ended March this year rose to Rs 4,605.75 crore as against Rs 3,934.68 crore for the year ago period.
"It was a remarkable year for the company where we recorded our highest revenue and profit ever. This was led by strong growth in the US generics business. During the fourth quarter we saw our India and rest of world (ROW) business also getting back to a robust growth," Alembic Pharmaceuticals MD Pranav Amin said.
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