Alkem Labs Q3 net profit up 90 pc to Rs 390 cr

New Delhi, Feb 7 () Drug firm Alkem Laboratories on Friday reported a 89.80 per cent rise in consolidated net profit a Rs 389.96 crore for the quarter ended December.

The company had posted a net profit of Rs 205.45 crore for the corresponding period of the previous fiscal, Alkem Laboratories said in a filing to the BSE.

Consolidated revenue from operations stood at Rs 2,181.84 crore for the quarter under consideration as against Rs 1,926.32 crore in the same period a year ago.

The company's board has declared an interim dividend of Rs 22 per equity share on the face value of Rs 2 per share for the financial year 2019-20, Alkem Laboratories said.

In a separate filing, the company said its board has approved the re-appointment and increase in remuneration of Basudeo N Singh as executive chairman of the company for a period of five consecutive years with effect from April 1, 2020 up to March 31, 2025.

The board also approved the appointment of Narendra Kumar Aneja as an additional director of the company, it added.

Shares of Alkem Laboratories were trading at Rs 2,536 per scrip on the BSE, up 5.74 per cent from its previous close. AKT RVK