Aurobindo Pharma posted an 8.9% rise in consolidated net profit to Rs 770 crore on 2.9% rise in net sales to Rs 5,702 crore in Q1 FY22 over Q1 FY21.
Consolidated profit before tax grew 2.2% to Rs 1,017.71 crore in Q1 FY22 from Rs 1,084.35 crore in Q1 FY21. EBIDTA before forex and other income stood at Rs 1,209.4 crore, an increase of 5.6% YoY. EBITDA margin for the quarter was 21.2% compared with 20.7% in Q1 June 2020 and 21.2% in Q4 March 2021.The drug company's US formulations revenue declined by 1.5% to year on year to Rs 2,681.2 crore Q1 FY22. Europe formulation revenue stood at Rs 1,582.9 crore, growing by 19.7% over corresponding previous quarter. Revenue from Growth Markets rose 13.7% year on year to Rs 329.30 crore. ARV revenue declined by 30.3% year on year to Rs 296.4 crore. API revenue for the quarter was at Rs 812 crore versus Rs 780.1 crore in the corresponding previous period.
The company's Research & Development (R&D) spend stood at Rs 358 crore, representing 6.3% of revenue. The company received final approval for 4 ANDAs from USFDA including 3 injectables.
Commenting on the company's performance, N. Govindarajan, MD of the company said, The quarter's performance reflected the resilience in our operations amidst the current challenging times. We remain focused on ensuring business continuity on the operations front and to resolve regulatory issues in some of our facilities. Our business is well prepared to navigate the journey towards profitable growth and we look forward to execute on our key growth pillars.
Meanwhile, the board has declared an interim dividend of Rs 1.50 per share.
Shares of Aurobindo Pharma declined 6% to Rs 776.25 on BSE. Aurobindo Pharma headquartered at Hyderabad, India, develops, manufactures and distributes generic pharmaceuticals, branded specialty pharmaceuticals and active pharmaceutical ingredients.
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