Business Standard

Alembic ltd zooms 13% on strong Q4 performance; net profit rises by 425%

The total consolidated income of Alembic rose by 30.7 per cent at Rs 51 crores in the March quarter of FY24 as against Rs 39 crores in the corresponding quarter of the previous fiscal year

market stocks us market share market bullish

Illustration: Binay Sinha

SI Reporter New Delhi

Listen to This Article

Shares of small cap firm Alembic soared up to 12.6 per cent at Rs 98.55 per share on the BSE in Tuesday’s intraday trade. The surge in the stock prices came after the company delivered a strong quarterly net profit and revenues for the January-March quarter of fiscal year 2023-24 (Q4FY24).

The total consolidated income of Alembic rose by 30.7 per cent at Rs 51 crore in the March quarter of FY24 as against Rs 39 crore in the corresponding quarter of the previous fiscal year. Sequentially, the uptick in total income 24.3 per cent compared to Rs 41 crore in Q4FY23. 

Alembic’s net profits also soared by 425 per cent to Rs 21 crore in Q4FY24 from Rs 4 crore in Q4FY23, while it was up 110 per cent on a quarter on quarter basis versus Rs 9.9 crore in the December quarter of FY24.

At 10:19 AM; the stock price of the company was trading 10.56 per cent higher at Rs 87.06 per share. In comparison, the S&P BSE index was up marginally by 0.05 per cent. 

The stock of the company is presently trading at a price to earnings multiple of 32.55 times. Alembic had hit a 52 week high of Rs 107.50 on February 21, 2024, while it hit a 52-week low of Rs 66 on May 15, 2023. 

Alemic is engaged in the business of pharmaceuticals, real estate and power assets. It manufactures and markets fermentation and chemistry based Active Pharmaceuticals Ingredients (API).

The company is also engaged in construction of residential and commercial real estate projects and project management and marketing consultancy. Alembic also has a power generation vertical. 

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: May 14 2024 | 10:39 AM IST

Explore News