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Drug major Aurobindo Pharma has posted a 19.5 per cent drop in net profit to Rs 404 crore for the fourth quarter of 2014-15, as against a net profit of Rs 502 crore a year ago.
The company saw its total operating income jump 35.7 per cent to Rs 3,162 crore for the quarter, compared with Rs 2,330 crore for the same period a year ago.
A 55 per cent rise in total expenses during the last quarter led to a sharp fall in its net profit.
Other income during the quarter saw a 24.8 per cent fall to Rs 6.74 crore, when compared with Rs 8.97 crore in the same quarter last fiscal.
The board of directors of the company has recommended for issue of one bonus equity share for each equity share held as on a record date to be determined.
For the full financial year 2014-15, the company's net profit saw a 34.4 per cent rise to Rs 157.5 crore, as against Rs 117.28 crore in the last fiscal.
Its total operating income increased 49.6 per cent to Rs 12,120.5 crore, up from Rs 8,099.89 crore in the previous fiscal. Formulation sales witnessed a 77.7 per cent growth to Rs 9558.6 crore, when compared with Rs 5378.5 crore last fiscal.
However, API sales for the company saw a 5.5 per cent fall to Rs 2,706.2 crore during 2014-15, as against Rs 2,864 crore in the previous fiscal
Formulation sales constituted 77.9 per cent and API 22.1 per cent to its gross sales.
"We are pleased to report another year of strong performance with sustained margins. We believe the acquired businesses would further enhance the performance going forward," said N Govindarajan, managing director of Aurobindo, in a release.
Shares of the company today lost 2.57 per cent to close at Rs 1304.15, as against the previous day's closing of Rs 1338.50 on the BSE.
