Aurobindo Pharma consolidated net profit for the September quarter increased 8.6% to ₹816.9 crore compared to ₹751.9 crore year earlier. On a sequential basis the net profit was 11% lower, from ₹918.2 crore the drugmaker had reported in the quarter ended June.
The net profit came on a 8.0% year on year increase in total revenue from operations to ₹7,796 crore (₹7,219 crore) and a 3% increase compared to ₹7,567 crore in the first quarter.
“There was continued growth in revenues across key business areas this quarter, reflecting the resilience of our diversified portfolio. While profitability saw a slight dip, primarily due to the transient nature of certain business activities, our underlying performance remains strong,” vice-chairman and managing director K. Nithyananda Reddy said.
With a solid foundation and ongoing operational improvements, the company remains confident of maintaining the growth trajectory and achieving strategic objectives for the year, he said in a release.
Driving the revenue during second quarter was mainstay formulations business contributing ₹6,640 crore, an increase of 11.3% from ₹5,968 a year earlier and a moderate 2.5% rise compared to ₹6,475 crore of the June quarter. Formulations revenue in the September quarter got a boost from a 19% growth in Europe to ₹2,105 crore (₹1,769 crore) and 44% increase in Growth Market at ₹812 crore (₹564 crore). In the key U.S. market, it increased 4.3% to ₹3,530 crore (₹3,385 crore), while declining less than 1% from the ₹3,555 crore in June quarter.
Revenue from ARV, a part of the formulations business, was nearly 23% lower y-o-y at ₹193 crore (₹250 crore) and 15.6% lower sequentially compared to ₹229 crore in the first quarter. Active pharmaceutical ingredient revenue declined less than 1% year on year to ₹1,156 crore (₹1,166 crore) and on a sequential basis 5.9% higher from ₹1,092 crore in June quarter.
Published - November 09, 2024 08:29 pm IST
