During the quarter, India sales were at Rs 2,011.3 crore (up 17% YoY) while International sales stood at Rs 857 crore (up 15.6% YoY).

Profit before exceptional items and tax grew 22.12% to Rs 314.64 crore in the fourth quarter of FY23 from Rs 257.64 crore posted in Q4 FY22. The company reported an exceptional loss of Rs 102.98 crore in Q4 FY23, on account of impairment of fixed assets.

EBITDA in Q4 FY23 was at Rs 353.3 crore, registering a growth of 4.8% YoY. EBITDA margin declined to 12.2% in Q4 FY23 as compared to 13.6% posted in the same period last year.

R&D expenses for the quarter was Rs 147.2 crore, or 5.1% of total revenue from operations compared to Rs 163.5 crore in Q4 FY22 at 6.6% of total revenue from operations.

As per secondary sales data by IQVIA, for the quarter ended 31 March 2023, the company grew ahead of Indian Pharmaceutical Market (IPM) with growth of 22.5% YoY compared to IPM growth of 14.9% YoY.

The contribution of new introductions to our growth was 3.1% significantly surpassing IPM at 2.3%, underscoring our exceptional ability to introduce and successfully commercialize new products.

In International business, US sales for the quarter was at Rs 591.6 crore from Rs 541.9 crore posted in Q4 FY22, recording a YoY growth of 9.2 %. Other International Markets sales jumped 33.3% to Rs 265.4 crore compared to Rs 1,991 crore in Q4 FY22.

During the quarter, the company filed 4 abbreviated new drug applications (ANDAs) with the US FDA and received 3 tentative approvals.

On full year basis, the pharma company's consolidated net profit dropped 40.19% to Rs 984.17 crore despite of 9.08% rise in revenue to Rs 11,599.26 crore in FY23 over FY22.

As on 31 March 2023, the company has filed a total of 173 ANDAs and 2 new drug applications (NDA) with the US FDA. Of these, it has received approvals for 132 ANDAs (including 17 tentative approvals) and 2 NDAs.

Sandeep Singh, managing director of Alkem said, “In FY23, India business outperformed the market with exceptional performance surpassing industry benchmarks and achieved good growth on a large base while our US performance was impacted due to significant pricing pressure. Our biotech franchise, Enzene raised funds from Eight Roads Ventures and F-Prime Capital during the year. Enzene also received approval for launch of 3 more mAbs in Indian market and made significant strides in conducting global trials for launch of select biosimilars in regulated markets.”

He further added, “While we are very confident about growth, our primary focus going forward is to drive profitability and operational efficiency through cost optimization, process improvements, and streamlining operations thereby maximizing value for our stakeholders.”

Meanwhile, the company's board has recommended a final dividend of Rs 10 per equity share for financial year ended March 2023, subject to the approval of the shareholders at the ensuing AGM.

Alkem Laboratories is engaged in pharmaceutical business with global operations. The company is engaged in the development, manufacture and sale of pharmaceutical and nutraceutical products.

Shares of Alkem Laboratories were down 0.51% to Rs 3,308 on the BSE.