On August 22, Alkem Laboratories witnessed a significant block deal, with shares worth ₹487 crore changing hands. It is likely that the company’s promoters were the sellers in this transaction.
Key Details:
- Transaction Size: Around 8.5 lakh shares, representing a 0.7% stake in the drugmaker, were traded at a floor price of ₹5,732 per share.
- Promoter’s Stake: As of the end of the April-June quarter, the promoters held a cumulative 56.38% stake in Alkem Laboratories. The recent transaction is expected to reduce this holding slightly.
- Background: Reports had earlier suggested that the promoter was looking to sell a 0.7% stake through block deals, aiming to raise approximately ₹477.36 crore.
Financial Performance:
- Net Profit: Alkem Laboratories reported a nearly twofold increase in its net profit for the first fiscal quarter, reaching ₹545.16 crore, up from ₹286.73 crore in the same period last year.
- Revenue: The company’s revenue grew marginally to ₹3,031.82 crore, compared to ₹2,967.72 crore in the previous year.
- Domestic Sales: Domestic sales were robust, rising 6.4% year-on-year to ₹2,022.3 crore, making up 67.6% of the company’s total revenue.
- International Sales: However, international sales saw a decline of 4.6%, amounting to ₹967.7 crore.
TOPICS:
Alkem Laboratories