The pharma company's consolidated net profit jumped 22.8% to Rs 780.68 crore on 8.9% increase in net sales to Rs 5835.23 crore in Q1 June 2020 over Q1 June 2019.
US formulation revenue stood at Rs 3,107.1 crore in Q1 June 2020, registering a growth of 15.6% from Rs 2,688.4 crore in Q1 June 2019. Europe formulation revenue came at Rs 1,322.2 crore, a decline of 5% against Q1 last year. Aurobindo's Growth Markets revenue declined by 7.6% year on year to Rs 289.6 crore.Consolidated profit before tax came at Rs 1084.35 crore in quarter ending June 2020, rising 25.6% from Rs 863.44 crore in same quarter last year. Total tax expense spurted 33.3% to Rs 303.67 crore in Q1 June 2020 over Q1 June 2019.
Consolidated EBITDA rose 9.7% to Rs 1257.4 crore in Q1 June 2020 from Rs 1146.4 crore in Q1 June 2019. EBITDA margin marginally improved to 21.2% in Q1 June 2020 from 21.1% from Q1 June 2019.
Aurobindo's research & development (R&D) spend at stood at Rs 254.5 crore in Q1 June 2020 which 4.3% of revenues. The company received final approval for 10 ANDAs from USFDA in quarter ending June 2020.
Commenting on the company's performance, N. Govindarajan, Managing Director said, Amidst challenging times, we have started the financial year by reporting a healthy performance. We have ensured the business continuity without compromising the safety and wellbeing of our employees. We are committed to adhere to quality standards by investing continuously and developing a differentiated product pipeline for a sustainable growth.
Shares of Aurobindo Pharma were down 2.82% to Rs 907.70. The counter has jumped 34.2% in last three months as compared to a 27% rise in Nifty Pharma index.
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Aurobindo Pharma is engaged in producing oral and injectable generic formulations and active pharmaceutical ingredients (APIs).
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