Aurobindo Pharma Limited, a Hyderabad-based manufacturer of generic pharmaceuticals and active pharmaceutical ingredients (APIs), has turned profitable in the second quarter ended September 2012 by reporting a net profit of Rs 222.4 crore, as compared to a net loss of Rs 80.2 crore in the corresponding quarter of last year, primarily on the back of forex gains.
The company has posted a foreign exchange gain of Rs 117.7 crore as against a loss Rs 185.4 crore in the corresponding quarter a year ago.
Consolidated net sales grew 40.44% to Rs 1,488.7 crore in the quarter under review, as against Rs 1,060 crore during the same period last year, driven by formulation sales, which grew by 52.5% to Rs 902.8 crore.
"We have witnessed strong performance during the quarter, recording healthy growth in our sales and earnings, both sequentially and on a year-on-year basis. We are positive that our continued efforts to introduce new formulation products, coupled with growing business of high-value APIs in advanced markets will help sustain our operational and financial performance going forward," Aurobindo managing director, N Govindarajan, said in a press release on Friday.
