Alkem Laboratories gains 1% after no Form 483 issued by USFDA for Baddi plant

Shares of Alkem Laboratories added 1.6 percent intraday Friday as company cleared the USFDA inspection at Baddi plant.

USFDA had conducted an inspection at the company’s manufacturing facility located at Baddi, Himachal Pradesh from August 6 to August 10, 2018.

At the end of the inspection, no Form 483 was issued.

The company’s June quarter (Q1FY19) consolidated net profit was increased by 115 percent at Rs 137.3 crore against Rs 63.8 crore in the same quarter last fiscal.

Revenue was up 27.2 percent at Rs 1,670 crore against Rs 1,313 crore.

Operating profit or EBITDA was up 126 percent at Rs 214.2 crore, while margin was up at 12.8 percent.

44th annual general meeting of the company scheduled to be held on August 31.

At 13:32 hrs Alkem Laboratories was quoting at Rs 2,142, up Rs 33.15, or 1.57 percent on the BSE.

Posted by Rakesh Patil

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