Aurobindo Pharma rose 2.71% to Rs 768.50 after consolidated net profit jumped 45.2% to Rs 849.80 crore on 16.6% rise in net sales to Rs 6063.40 crore in Q4 March 2020 over Q4 March 2019.
Consolidated profit before tax stood at Rs 1077.51 crore in Q4 March 2020, rising 32% from Rs 816.34 crore in Q4 March 2019. Total tax expenses declined 1.12% to Rs 228.52 crore in Q4 March 2020 over Q4 March 2019. The company reported deferred tax credit of Rs 101.03 crore in Q4 March 2020, which aided net profit.Consolidated EBITDA surged 26.6% to Rs 1342 in Q4 March 2020 from Rs 1060 crore in Q4 March 2019. EBITDA margin improved to 21.8% in Q4 March 2020 from 20% in Q4 March 2019.
Research & Development expenses for Q4 March 2020 stood at Rs 239 crore, 3.9% of revenue.
US formulation sales stood at Rs 2,990.3 crore in Q4 March 2020, registering a growth of 20.5% from Rs 2,481.1 crore in Q4 May 2019. Europe formulation sales stood at Rs 1,652.5 crore, an increase of 26% from the same period last year. API sales for the quarter declined 17.6% and stood at Rs 755.6 crore in Q4 March 2020 as against Rs 916.8 crore in Q4 March 2019.
The pharmaceutical company reduced its net debt to Rs 2718.4 crore in March 2020 from Rs 3181.9 crore in December 2019 and Rs 5008.1 crore in March 2019.
Commenting on the company's performance, N. Govindarajan, managing director of the company said: "The new fiscal year has begun with lot of challenges that the globe and industry had never witnessed. We are committed in protecting the health and wellbeing of our employees, their families and other stakeholders. We have closed FY20 with a healthy performance in Q4. The growth was seen across all our geographies. Diversified product basket has helped us to maintain the growth momentum in our core geographies like USA and Europe. We remain focused on strengthening our existing businesses, developing a differentiated & specialty product basket and regulatory compliance."
On a consolidated basis, net profit rose 20% to Rs 2829.51 crore on 18.3% rise in net sales to Rs 22737.95 crore in fiscal year 2020 over fiscal year 2019.
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Aurobindo Pharma is engaged in producing oral and injectable generic formulations and active pharmaceutical ingredients (APIs). Its product portfolio is spread over seven therapeutic/product areas, including antibiotics, anti-retrovirals, cardiovascular, central nervous system, gastroenterologicals, anti-allergies and anti-diabetics.
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