Aurobindo Pharma net profit increases 61 percent to Rs 919 crore in Q1
New Delhi: Aurobindo Pharma has announced a 61 percent year-on-year increase in its consolidated net profit for the first quarter ended June 2024. The Hyderabad-based pharmaceutical company reported a net profit of Rs 919 crore, up from Rs 571 crore during the same period last year.
In a release, Aurobindo Pharma highlighted that its revenue from operations also saw a significant boost, climbing to Rs 7,567 crore in the June quarter compared to Rs 6,851 crore in the corresponding quarter of the previous fiscal year.
Commenting on the Company’s performance, Mr. K. Nithyananda Reddy, Vice-Chairman and Managing Director of the Company said: “We are pleased with our continued strong performance this quarter, with a significant top-line growth across all our business segments. Our profitability was sustained by improved gross margins and operational efficiencies, while ramping-up our recently commercialized plants. We are confident in our ability to achieve our growth targets for FY25.”
US formulations (excluding Puerto Rico) revenue increased by 13.3% YoY to INR 3,555 Cr (USD 426 million). Europe formulations revenue increased by 7.9% YoY to INR 1,982 Cr (EUR 221 million)
Whereas, Growth Markets revenue increased by 49.2% YoY to INR 709 Cr (USD 85 million).
Aurobindo Pharma Limited is an integrated global pharmaceutical company headquartered in Hyderabad, India. The Company develops, manufactures, and commercializes a wide range of generic pharmaceuticals, branded specialty pharmaceuticals and active pharmaceutical ingredients globally in over 150 countries.
The company has 29 manufacturing and packaging facilities that are approved by regulatory agencies including USFDA, UK MHRA, EDQM, Japan PMDA, WHO, Health Canada, South Africa MCC, Brazil ANVISA. The Company’s product portfolio is spread over 7 major therapeutic/product areas encompassing CNS, Anti-Retroviral, CVS, Antibiotics, Gastroenterological, Anti-Diabetics and Anti-Allergic, supported by a strong R&D set-up.
Read also: Aurobindo Pharma arm buys Ace Lab for Rs 17.91 crore
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