Alembic revenue up by 6% , profit down due to extraordinary item

Performance Highlights:

1. Total Formulation Sales up 10 % to Rs. 16700 Lacs.
2. Total revenue up by 6% at Rs.20919 Laos.
3. Profit Before Tax and extra ordinary items up by 13% at Rs.3437 Lacs.
4. Profit After Tax down by 38% at Rs.1645 Lacs due to extraordinary charge of Rs.1532 Lacs

Vadodara, October 17, 2006: Alembic Limited, the pharmaceutical major, today reported a rise of 6% in revenues to Rs.20919 lacs compared to Rs.19738 lacs in the corresponding quarter of the last year. The company made an extraordinary one time payment of Rs.1532 lacs towards past interest payments to CNSC and for the recently completed VRS programme. Sales to regulated market for the quarter amounts to Rs.666 lacs as compared to Rs.302 lacs for corresponding quarter in previous year.

Sub Division of Shares

The Company Split the face value of Equity shares from Rs.10/- per share to Rs.2/- per share and accordingly issued 13,84,54,905 Equity shares of Rs.2/- each to the shareholders of the Company holding Equity Shares of Rs.10/- each on Record Date i.e. 04-October-2006.

Profit Margin

During the quarter / half year, the PBIDT margin was under pressure due to arrear of wages paid for the previous period as well as costs and investment in the inceptual phase of OTC business which is fully charged to Profit & Loss Account.

Earning Guidance

Baring any unforeseen circumstances, the Company expects to grow its topline by 14% - 15% in the second half.

Profit after extraordinary items and after tax far the full year ended 31.03.2007 is likely to exceed the PAT of previous year.

Source : Equity Bulls

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