Indian pharma major Aurobindo Pharma on November 9 reported an 85 percent year-on-year rise in consolidated net profit to Rs 757crore for the July-September quarter of the current financial year.
The company had reported a profit of Rs 410 crore in the same period last year. Revenue came in at Rs 7,219.4 crore, up 25.7 percent from the year-ago quarter numbers of Rs 5,739.3 crore.
The topline and bottomline trumped the CNBCTV 18 estimates of Rs 665 crore and Rs 6915 crore respectively.
The company's earnings before interest, taxes, depreciation and amortization (EBITDA) came in at Rs 1373.5 crore, up from Rs 791 crore in the year-ago period. The EBITDA margin was at 19 percent against 13.6 percent in the year-ago period.
US formulations (excluding Puerto Rico) revenue increased by 35.7 percent YoY to Rs 3,385 crore. Europe formulation revenue increased by 16.7 percent YoY to Rs 1,769 crore. Growth markets revenue increased by 24.7 percent YoY to Rs 564 crore.
Research & Development (R&D) spend stood at Rs 300 crore, 4.2 percent of revenues in the quarter. The company filed 10 Abbreviated New Drug Application (ANDAs) with USFDA during the quarter and received final approval for 15 ANDAs including 3 injectable products during the quarter.
Anti retro viral business revenue increased by 52.1 percent YoY to Rs 250 crore and accounted for 3.5 percent of consolidated revenue. Active Pharmaceutical Ingredient business revenue increased by 20.3 percent to R 1,166 crore and contributed 16.2 percent of consolidated revenue.
“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,” said K. Nithyananda Reddy, Vice-Chairman and Managing Director in a press statement.
The Board approved the first interim dividend of 300 percent i.e. Rs.3.00 (Rupees three only) per equity share of Rs 1/- each on the equity share capital of the Company.
(This is a developing story. Please come back for more)
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