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Aurobindo Pharma's Q4 net profit down 28%, revenue slips to Rs 5,809 crore

The EBITDA stood at Rs 974.3 crore, marking a 23.6 percent decline as against Rs 1,274.7 crore reported in Q4 FY21.

May 30, 2022 / 09:24 PM IST
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Drug maker Aurobindo Pharma on May 30 posted a net profit of Rs 576.1 crore for the fourth quarter of fiscal year 2021-22, which was 28 percent lower as compared to Rs 802 crore clocked in the year-ago period.

The company's revenue during Q4 FY22 came in at Rs 5,809.3 crore, a drop of three percent as against Rs 6,001.5 crore reported in the corresponding period of the previous fiscal.

Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) stood at Rs 974.3 crore, marking a 23.6 percent decline as against Rs 1,274.7 crore reported in Q4 FY21. EBITDA margin in the quarter ending March 31, 2022 dropped to 16.8 percent from 20.9 percent in the year-ago period.

"We continue to see volume growth in the complex generics segment and are also making significant progress in the complex development programs
including biosimilars. Further we are also on-track for completing the PLI project as per the committed timelines,” Vice-Chairman and
Managing Director K. Nithyananda Reddy said in a press release.

Aurobindo Pharma informed the stock exchanges that its board has approved a fourth interim dividend of 450 percent i.e. Rs 4.50 per equity share of Rs 1 each on the equity share capital of the company.

"The company has already fixed June 7,2022 as the record date for the purpose of payment of fourth interim dividend for the financial year 2021-22. The interim dividend will be paid on or before June 15, 2022," the regulatory filing noted.

The Hyderabad-headquartered pharmaceutical major had generated a buzz in the market in March, when it was reported that it is proceeding towards selling a majority stake in the injectable business to private equity major Blackstone.

Moneycontrol, however, reported on May 27 that the mega deal is facing a hurdle due the differences that have emerged between the two entities.  “Blackstone was seen as the frontrunner for this proposed transaction via which Aurobindo Pharma was looking to unlock value. But post due diligence the negotiations have hit a roadblock and the deal structure proposed by Blackstone is not agreeable to the sellers,” a source privy to the development said.

Moneycontrol News
first published: May 30, 2022 09:24 pm