Drugmaker Aurobindo Pharma reported consolidated net profit for the March quarter declined more than 12% to ₹505.9 crore.
The lower net profit came even as revenue from operations increased more than 11% to ₹6,472.96 crore. Aiding the increase was a 51% increase in Formulations sales to ₹592 crore in ‘Growth Markets,’ including India, which also helped blunt the impact of a 32% decline in ARV revenue to ₹159 crore during the quarter.
During the quarter, U.S. formulations revenue increased 11.6% YoY to ₹3,045 crore, while Europe formulations revenue stood at ₹1,660 crore, an increase of 7.7%, the company said.
“We saw decent performance in the quarter on the back of stable demand and pricing environment across our portfolio and geographies,” vice-chairman and MD K. Nityananda Reddy said in a release.
For the fiscal, the company reported a more than 27% decline in net profit to ₹1,927.6 crore even as revenue from operations increased 6% to ₹24,855.3 crore.