On the segmental front, API revenue was Rs 294 crore (up 23% YoY). In the Formulations business, US revenue was Rs 418 crore (up 20% YoY), India revenue was Rs 549 crore (up 8% YoY) and Ex-US revenue was Rs 215 crore (up 9% YoY).

EBIDTA fell by 12% to Rs 231 crore in Q2 FY23 from Rs 263 crore in Q2 FY22. EBIDTA margin was 16% in Q2 FY23 as against 20% in Q2 FY22.

R&D expenses aggregated to Rs 168 crore in the second quarter. Capex spend in the July-September 2022 quarter was Rs 131 crore.

Pranav Amin, managing director, Alembic Pharmaceuticals, said: “It was a satisfactory quarter led by growth in all the verticals of the company, in particular the API business outperformed with a 23% growth during the quarter.”

Alembic Pharmaceuticals is a vertically integrated research and development pharmaceutical company. The company manufactures and markets generic pharmaceutical products all over the world.

The scrip rose 2.53% to currently trade at Rs 631.65 on the BSE.