Alembic gets "thumbs down"

Alembic Pharma is among the top three losers on the BSE since the opening bell today. The stock opened over 1% lower at Rs.778.50 and went down almost 8% to an intraday low at Rs.726. Its 52-week low is at Rs.672.

The company, for Q4FY22, posted a consolidated net profit at Rs.35 crore, down from Rs.251 crore posted in Q4FY21 (YoY). This drop in net profit was after it charged a non-recurring expense of Rs.188 crore in Q4Fy22. And even if this expense was not charged off, the net profit was down 11%.

Its revenue from operations rose to Rs.1416 crore, up 11%. EBITDA was down 51% at Rs.346 while margins fell from 26.5% to 11.9%.

Its US generics business grew 17% at Rs.557 crore.

The stock is in the red after the market gave these numbers a thumbs down, saying that they came in way below expectations.