Hyderabad-headquartered Aurobindo Pharma Limited reported a consolidated net loss of Rs 122.8 crore for the first quarter ended June 2011. The company had reported a net profit of Rs 51.5 crore in the same quarter in last financial year.
Total operating sales during the quarter stood at Rs 1,076.87 crore, as against Rs 922.25 crore in the same period a year ago, reflecting a growth of 16.76 per cent.
Outstanding zero coupon FCCBs (foreign currency convertible bonds) of $139.2 million have been redeemed and extinguished in entirety during the quarter. Redemption premium, including withholding tax amounting to Rs 319.9 crore, resulted in the net loss, a company release said.
On the operational side, the company is taking necessary steps to address and resolve the regulatory challenges with the US Food and Drug Administration (USFDA) around its unit VI Cephalosporin manufacturing facility, said Ramprasad Reddy, chairman of Aurobindo Pharma.
“We expect our recently commercialised formulations facility, unit VII located in Hyderabad SEZ, to contribute significantly to our growth during the year,” he added.
During the quarter, Aurobindo Pharma received 6 ANDAs (abbreviated new drug applications) filed in the US (cumulative filings of 215), and around 84 dossier filings in Europe (cumulative filings 1,705).
