Aurobindo Pharma has posted a nearly 29% increase in the consolidated net profit for the quarter ended September on the back of a better performance of the formulations business in the US, EU and growth markets.
It registered a net profit of ₹780.97 crore or 28.96% increase over the ₹605.55 crore of the year’s earlier period. Total revenue from operations for the Hyderabad-headquartered company was ₹4,435.89 crore, an increase of 17.49% compared to the ₹3,775.45 in the corresponding period of previous fiscal.
Total income, which included foreign exchange gain and other income, was at ₹4,446.17 crore, 16.88% more compared to the ₹3,803.92 crore in the year’s earlier period.
Managing Director N. Govindarajan said “strong growth in the US, EU and Growth Markets contributed to a healthy performance in Q2 of FY-18. Despite challenging environment, our US business posted a robust growth of 21% y-o-y driven by new product launches and increased volumes of existing products.”
Aurobindo Pharma’s focus on “developing a differentiated and speciality product basket will help to sustain the growth momentum for the future,” he added.
Besides the US market, which was ₹2,098.90 crore (₹1,735.10 crore), the gross sales of formulations in Europe grew by 36.9% to Rs.1,113.5 crore (₹813.4) and by 37.7% in the Growth Markets at ₹243.4 crore (₹ 176.8 crore).
The ARV sales, however, declined by 25.5% to ₹ 207.5 crore (₹278.5 crore). Gross sales of API was flat at ₹771.8 crore (₹768.8 crore).
150% interim
The board of directors of the company has approved an interim dividend of 150% or ₹1.50 per equity share (face value of ₹1 each).
