 "Aurobindo Pharma")
Hyderabad-based pharmaceutical major Aurobindo Pharma reported a 91.43 per cent year-on-year (Y-o-Y) increase in consolidated net profit for the December quarter to Rs 939.97 crore, while the revenue from operations grew by 14.7 per cent to Rs 7,352 crore, according to regulatory filings.
Sequentially, the net profit was up by 24.17 per cent from Rs 757 crore, whereas revenue grew by 1.8 per cent from Rs 7,219 crore in Q2 FY24.
The company’s revenue from formulations increased by 17.2 per cent Y-o-Y to Rs 6,291 crore. Sequentially, it was up by 5.4 per cent from Rs 5,968 crore in Q2 FY24.
International markets formed 89 per cent of the company’s revenue mix, whereas domestic markets accounted for the remaining 11 per cent. US formulations (excluding Puerto Rico) made up 51.1 per cent of the company’s consolidated revenue. The US revenue increased by 28.9 per cent Y-o-Y to Rs 3,756 crore.
It was followed by Europe formulation revenue at Rs 1,728 crore, an on-year rise of 1.6 per cent.
The Growth Markets revenue for the company increased by 25.6 per cent Y-o-Y to Rs 627 crore this quarter. This figure also includes the company’s domestic formulation sales to the tune of Rs 60 crore in Q3 FY24.
The company saw a 28.6 per cent Y-o-Y fall in its antiretroviral (ARV) business revenue due to sales deferment, whereas its Active Pharmaceutical Ingredients (API) business grew by 7.1 per cent Y-o-Y.
More From This Section
The company’s Earnings Before Interest, Taxes, Depreciation, and Amortisation (Ebitda) before Forex and other income grew by 67.8 per cent at Rs 1,601 crore. The Ebitda margin was reported to be 21.8 per cent, a rise from 14.9 per cent for the same quarter last year.
The company also received final approvals for 16 Abbreviated New Drug Applications (ANDAs) in Q3 FY24, including 7 specialty and injectable products from the United States Food and Drug Administration (USFDA).
Commenting on the company’s performance, K. Nithyananda Reddy, Vice-Chairman and Managing Director, Aurobindo Pharma said that the company has made considerable progress in their operations and the cost efficiencies achieved.
“This quarter’s highest-ever sales and Ebitda reflect the same. With our continued focus on developing a strong pipeline and driving the commercialisation of our key projects, we are confident of our growth trajectory in the months ahead,” he added.
On Monday, Aurobindo Pharma’s stocks were up by 1.78 per cent, ending the day’s trade at Rs 1,021 apiece on the Bombay Stock Exchange (BSE).
