Aurobindo Pharma’s net profit nearly doubles in Q2
Logs 85% rise in its net profit at Rs 752 cr in July-Sept qtr
Hyderabad: Aurobindo Pharma Limited, an Indian multinational pharmaceutical manufacturing company headquartered in Hyderabad, has reported 85 per cent rise in its net profit at Rs 752 crore in July-September quarter (Q2) of financial year 2023-24, which is almost double when compared to Rs 409 crore in the same quarter last fiscal.
K Nithyananda Reddy, Vice-Chairman & MD, Aurobindo Pharma said: “This is yet another quarter with highest ever sales, driven by robust performance across the markets, and continued margin expansion, aided by operational leverage and efficiencies. With our strong product pipeline, focus on compliance and key projects in advanced stages, we will continue our growth journey, while generating value for our stakeholders.”
The company’s revenue from operations increased by 25.8 per cent YoY (year-on-year) at Rs 7,219 crore with growth seen across key segments during Q2 of FY24. The revenue from US formulations business (excluding Puerto Rico) has grown 35.7 per cent YoY to Rs 3,385 crore and Europe formulations business surged up by 16.7 per cent YoY to Rs 1,769 crore in Q2 FY24. The growth markets revenue increased by 24.7 per cent YoY to Rs 564 crore in the review period.
The company has spent Rs 300 crore on Research & Development (R&D) in Q2 FY24. It has received final approval for 15 ANDAs including three injectable products from the USFDA during the quarter. The Board has approved interim dividend at 300 per cent at Rs 3 per equity share of Rs 1 for FY24.
