Alkem Laboratories Q4 Results: Profit Jumps 4.4x But Misses Estimates

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Alkem Laboratories Ltd.’s consolidated net profit increased 4.4x in the fourth quarter of financial year 2024, and it missed analysts’ estimates.

The company posted a profit of Rs 304 crore in the quarter-ended March, in comparison with Rs 68 crore in the year-ago period, according to an exchange filing on Wednesday. Analysts tracked by Bloomberg had estimated a profit of Rs 350.21 crore.

Company had an exceptional item of Rs 119.7 crore. PAT for Q4FY23 was impacted on account of derecognition of deferred tax of Rs 119.7 crore. Adjusted for the above item, PAT growth for Q4FY24 would have been 54%.

Shares of company were trading 0.36% higher at Rs 5333.05 apiece on the NSE at 2:26 pm, as compared with a 0.62% decline in the benchmark Nifty 50.

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