Aurobindo Pharma Q3 net declines 19% to Rs 491 crore

"We witnessed an improved momentum backed by recovery across our business verticals and our endeavour is to continuously innovate and differentiate," Aurobindo Pharma Vice-Chairman and Managing Director K Nithyananda Reddy said.

Aurobindo Pharma on Thursday said its consolidated net profit declined by 19 per cent to Rs 491 crore for the third quarter ended December 31, 2022.

The company had reported a net profit of Rs 604 crore in the same quarter of last fiscal.

Revenue from operations rose to Rs 6,407 crore as against Rs 6,002 crore in the October-December quarter of last fiscal, the Hyderabad-based drug firm said in a statement.

The company's board has approved an interim dividend of Rs 3 per share with face value of Re 1 each for the year 2022-23.

"We witnessed an improved momentum backed by recovery across our business verticals and our endeavour is to continuously innovate and differentiate," Aurobindo Pharma Vice-Chairman and Managing Director K Nithyananda Reddy said.

In-line with its commitment to innovate, the company increased the investments in the biosimilars segment, he added.

"We aim to sustain the momentum with new launches, improved cost efficiencies and adherence to the highest standards of compliance, supported by our strong execution," Reddy said.

Shares of the company on Thursday ended 0.99 per cent down at Rs 440.70 apiece on the BSE.