Manufacturer of generic and active pharmaceutical ingredients (APIs) Aurobindo Pharma Limited reported a 69 per cent decline in net profit to Rs 51.5 crore for the quarter ended June 2010, as compared with Rs 166.57 crore in the corresponding quarter last year.
Operating income was up 8.14 per cent to Rs 922.3 crore during the quarter, as against Rs 852.8 crore during the same period a year ago.
The profitability was impacted due to foreign exchange losses and overheads on operationalisation of two formulations manufacturing facilities.
The company commenced operation of its large formulations facility, Unit-VII located in an SEZ in Hyderabad during the quarter and another facility in New Jersey, US.
The aggregate investment in these facilities was approximately Rs 475 crore, Aurobindo chairman Ramprasad Reddy stated in a release on Thursday.
