Aurobindo Pharma net profit doubles

Hyderabad-based Aurobindo Pharma Limited has reported 108 per cent increase in its net profit at Rs 78.11 crore for the quarter ended March, 2007 as compared with Rs 37.53 crore in the corresponding quarter in 2005-06. Net sales during the three month period grew by 15 per cent to touch Rs 532.76 crore as compared with Rs 463.04 crore in the corresponding fourth quarter of the previous year.

"The full capacity utilisation of formulations manufacturing has recently been achieved after receiving necessary approvals while the overheads remain constant as we built the facilities a year ago. This is the basic reason behind the spectacular growth in the company's profits," Srinivas Lanka, director, Aurobindo Pharma said.

The board of directors of the company, which met here today, has recommended a dividend at the rate of 50 per cent on the equity share capital of the company, namely Rs 2.50 per share. For the full year ended March, 2007, the company's net profit grew by 188 per cent at Rs 200.96 crore as compared with Rs 68.70 crore in the previous year. The company reported a 32.71 per cent increase in net sales last year, which stood at Rs 2,250.22 crore as compared with Rs 1695.50 crore in the year 2005-06.