Industry

Formulations sales boost Aurobindo Q2 revenue, net

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Drugmaker Aurobindo Pharma has posted a consolidated net profit of ₹639.53 crore for the quarter ended September, a 4.59% increase from the corresponding period in the previous fiscal.

Total revenue from operations increased 17.86% to ₹5,600.47 crore.

Boosting the performance was a robust growth in the formulations revenue in the U.S. and Europe, the two key markets for the Hyderabad-headquartered drugmaker.

U.S. formulations revenue at ₹2,835.5 crore was a 27.3% increase from the corresponding period of the previous fiscal.

The formulations revenue from Europe was 21.2% higher at ₹1,401.3 crore.

While the growth was 3.8% in the Growth Markets, the ARV (antiretroviral) formulations revenue declined 2.5% to ₹237.9 crore (₹244 crore)

Total formulations sale, which accounted for nearly 85.6% of the total revenue, increased 21.8% to ₹4,793.8 crore. Total API (active pharmaceutical ingredient) declined 1.3% to ₹805.8 crore.

‘Good show continues’

“We had another quarter of healthy performance where we continued to grow in the U.S. and Europe, which are our focussed geographies,” managing director N.Govindarajan said.

In a statement, he said the research and development (R&D) initiatives have been progressing well across the products basket and clinical trials for the company’s first biosimilar product began in the current quarter (Q3FY20).

“We reiterate that we are committed to quality adherence and are in the process of resolving all pending regulatory issues,” Mr. Govindarajan said.

The company has declared an interim dividend of 125% or ₹1.25 per equity share of Re.1 each.

On Monday, shares of the company closed 0.31% lower at ₹437.60.

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Printable version | Dec 11, 2019 7:12:51 PM | https://www.thehindu.com/business/Industry/formulations-sales-boost-aurobindo-q2-revenue-net/article29955883.ece

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