Pharmaceutical company Alembic Pharmaceuticals on Tuesday announced an 11.60% increase in consolidated net profit to Rs 250.70 crore for the quarter ended March 2021, mainly due to strong sales.

The company had recorded a net profit of Rs 224.63 crore for the corresponding period of the previous fiscal year, Alembic Pharmaceuticals said in a filing with ESB.

Consolidated turnover from operations amounted to Rs 1,280.39 crore for the quarter under review. It was Rs 1,206.83 crore for the same period a year ago, he added.

For the fiscal year ended March, the company recorded a net profit of Rs 1,178 crore compared to Rs 829 crore in 2019-20, Alembic Pharma said.

Consolidated turnover from operations amounted to Rs 5,393.13 crore. It was 4,605.75 crore rupees for the previous fiscal year, he added.

“It has been an exceptional year with the company recording its highest sales and profits in its history. It has been driven by strong growth in API and international business,” said MD Pranav Amin of Alembic Pharmaceuticals.

The board recommended a dividend of 14 rupees per share with a par value of 2 rupees each, according to the filing.

Shares of Alembic Pharmaceuticals closed at Rs 1,006.80 per certificate on BSE, up 2.42 percent from its previous close.

.