Jan 22 (Reuters) – Indian drugmaker Alivus Life Sciences, formerly called Glenmark Life Sciences, reported a higher third-quarter profit on Thursday, driven by strong demand in its mainstay active pharmaceutical ingredients (API) business.
The Mumbai-based company said its profit rose to 1.50 billion rupees ($16.4 million) in the three months ended December 31, from 1.37 billion rupees a year earlier.
Revenue from operations rose 4.8% to 6.73 billion rupees.
For further results highlights, click.
KEY CONTEXT
Indian makers of APIs are seeing rising demand in key European and U.S. markets and are expected to benefit further as global drugmakers diversify supply chains away from China.
APIs are key elements added to drugs to produce desired health effects.
Alivus has more than 130 APIs in its portfolio, spanning therapeutic areas, including cardiovascular diseases, oncology and anti-infectives.
Peer Granules India will report its December-quarter results on Friday.
PEER COMPARISON
Estimates Analysts’
(next 12 sentiment
months)
RIC PE EV/ Reven Prof Mea # Stock Div
EBI ue it n of to yie
TDA growt grow rat ana price ld
h (%) th ing lys target (%)
(%) * ts **
Alivus 17 11. 12.42 16.2 Str 4 0.72 0.5
Life .2 61 6 ong 8
Sciences 9 Buy
Ltd
Laurus 63 30. 16.38 37.4 Hol 14 1.16 0.1
Labs Ltd .1 84 6 d 5
5
Granules 20 11. 15.36 22.2 Buy 3 0.94 0.2
India Ltd .7 75 4 6
9
Divi’s 53 37. 18.07 22.5 Hol 28 0.91 0.4
Laborator .6 96 8 d 9
ies Ltd 9
* Mean of analysts’ ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell** Ratio of the stock’s last close to analysts’ mean price target; a ratio above 1 means the stock is trading above the PT
OCTOBER TO DECEMBER STOCK PERFORMANCE
— All data from LSEG
— $1 = 91.6125 Indian rupees
(Reporting by Kashish Tandon in Bengaluru; Editing by Eileen Soreng)
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