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HomeBusinessAurobindo Pharma Q3 net surges to ₹940 crore 

Aurobindo Pharma Q3 net surges to ₹940 crore 

Representational photo
| Photo Credit: ROY CHOWDHURY A

Drugmaker Aurobindo Pharma reported consolidated net profit surged more than 91% year-on-year to ₹939.9 crore (₹491 crore) in the third quarter ended December on the back of a nearly 14.7% increase in revenue from operations.

“Pleased with the considerable progress we have made in our operations and the cost efficiencies achieved, this quarter’s highest ever sales and EBITDA reflect the same,” vice-chairman and MD K. Nithyananda Reddy said on Saturday. The company has declared an interim dividend of ₹1.5 per equity share (face value of ₹1).

An almost 29% rise in formulations revenue from the key U.S. market at ₹3,756 crore and more than 25% increase in sales from the Growth Markets to ₹627 crore, which included domestic formulations sales, helped boost the company’s revenue from operations to ₹7,352 crore (₹6,407 crore). Europe formulation revenue increased 1.6% to ₹1,728 crore. Revenue from ARV formulations, however, declined to ₹179 crore (₹251 crore).

Total formulations revenue was 17.2% higher at ₹6,291 crore (₹5,366 crore), while total API sales at ₹1,022 crore (₹955 crore) was an increase of 7.1%.

“With our continued focus on developing a strong pipeline and driving the commercialisation of our key projects, we are confident of our growth trajectory in the months ahead,” Mr. Reddy said.

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