Aurobindo Pharma net profit down 28 percent to Rs 576 crore in Q4

Total expenses in the fourth quarter were marginally higher at Rs 5,097.75 crore as against Rs 5,011.05 crore in the year-ago period.

During the quarter, US formulations revenue declined by 4.7 per cent on a year-on-year basis to Rs 2,728.1 crore, while the Europe formulations revenue stood at Rs 1,540.7 crore, largely flat on year-on-year basis, the company said.

Active pharmaceutical ingredients revenue for the quarter was at Rs 913 crore as against Rs 794.3 crore in the corresponding previous period, it added.

Aurobindo Pharma vice-chairman and managing director K Nithyananda Reddy said the company has performed relatively better in this quarter in terms of its path for future growth and sustained profitability in spite of the challenging times for the industry.

For the fiscal year ended March 2022, the company's consolidated net profit stood at Rs 2,647.11 crore as against Rs 5,333.82 crore in the previous fiscal.

In FY22, consolidated total revenue from operations stood at Rs 23,455.49 crore as against Rs 24,774.62 crore in FY21, the company said, adding that its board has approved an interim dividend of Rs 4.50 per equity share of Re 1 for the year 2021-22.

"We continue to see volume growth in the complex generics segment and are also making significant progress in the complex development programs, including biosimilars. Further, we are also on track for completing the PLI project as per the committed timelines," Reddy said.