Aurobindo Pharma posts 32.5 pc rise in Q2 net profit on record revenue

New Delhi, Nov 4 (PTI) Aurobindo Pharma Ltd on Wednesday reported a 32.5 per cent increase in net profit to Rs 1,123.84 crore during the September quarter, driven by growth across key businesses.

The pharma major had posted a profit after tax (PAT) of Rs 848.13 crore during the same period of the previous fiscal.

The company posted its highest-ever quarterly revenue from operations at Rs 10,263 crore, up 24 per cent year-on-year, Aurobindo Pharma said in a regulatory filing.

The company’s expenses also rose to Rs 8,740.9 crore from Rs 7,132.03 crore a year earlier, it said.

Its US revenue increased 25 per cent to Rs 4,555 crore, while the Europe business jumped 27 per cent to Rs 3,161 crore during the quarter under review, the company said in a release.

As of September 30, on a cumulative basis, the company filed 900 Abbreviated New Drug Applications (ANDAs) with the US health regulator and received 747 final approvals and 35 tentative approvals.

In the half year ended September, Aurobindo Pharma posted a 28.9 per cent rise in net profit to Rs 2,155.88 crore from Rs 1,672.33 crore a year earlier.

Nithyananda Reddy, Vice-Chairman and Managing Director of the company, said, “Our (Q2) growth is supported by healthy organic momentum across our key businesses and the successful integration of inorganic opportunities, further strengthening our capabilities and positioning us for the future.

“As we advance our strategic priorities, we remain focused on sustainable growth, financial discipline and creating long-term value for our stakeholders, while continuing to expand access to quality and affordable healthcare worldwide.”

The company has declared an interim dividend of Rs 7 per share.

Shares of the firm ended nearly flat at Rs 1,701.1 apiece, up 0.12 per cent, on the BSE. PTI TRB SHM