Generic pharmaceuticals and active pharmaceutical ingredients manufacturer Aurobindo Pharma Ltd witnessed a 9.8 per cent increase in its net profit to Rs 188.6 crore for the third quarter ended December 31, as compared with Rs 171.8 crore in the corresponding period last year. Net sales were Rs 1,192.2 crore during the quarter, as against Rs 915.2 crore, reflecting growth of 30.3 per cent.
“We recently unlocked our no-core asset in China, having a positive impact on the profitability and cash flows. And, we continue to see a strong momentum in our formulations business with the scaling up of operations of our large formulations units in the Jedcharla SEZ near Hyderabad and in New Jersey,” said chairman Ramprasad Reddy. Last month, the company had said it would divest nearly 80 per cent stake in its loss-making Chinese subsidiary, Aurobindo (Datong) Bio Pharma, to China National Pharmaceutical Group Corp.