Aurobindo Pharma Q4 net almost flat at ₹903 crore
Generic drugmaker Aurobindo Pharma reported consolidated net profit for the March quarter declined marginally to ₹903 crore compared with ₹907 crore a year earlier.
The lower net profit came on a 10.6% increase in revenue from operations to ₹8,382 crore (₹7,580 crore) and total expenses rising more than 12% to ₹7,149.6 (₹6,351.1 crore).
Formulations revenue from the key U.S. market increased 13.5% YoY to ₹4,072 crore, while in Europe it rose 17.2% to ₹2,147 crore. Growth Markets formulations revenue declined 7.8% to ₹786 crore.
Total formulations revenue at ₹7,313 crore (₹6,510 crore) was an increase of 12.3%. Total API revenue was 5% higher at ₹1,069 crore (₹1,019 crore).
It was another quarter and year of all-time high sales and EBITDA, 'reflecting the strength of our core businesses, consistent volume-led growth and the depth of our differentiated product portfolio,' vice-chairman and MD K. Nithyananda Reddy said.
Aurobindo's European operations continue to perform exceptionally well and moving steadily towards the $1-billion revenue milestone. 'Backed by our ongoing capacity enhancements we remain firmly positioned to sustain our trajectory,' he said in a release.
For the fiscal ended March, the company's consolidated revenue from operations was 9.4% higher at ₹31,724 crore (₹29,002 crore). Net profit increased 9.9% to ₹3,484 crore (₹3,169 crore).
Net profit for the fourth quarter on a standalone basis slumped 30% to ₹408.1 crore (₹578.6 crore) on a revenue from operations that declined to ₹2,731.9 crore (₹2,894 crore).
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