Aurobindo Pharma reports better-than-expected 84 percent rise in Q2 profit
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Hyderabad: India's Aurobindo Pharma Ltd reported a better-than-expected 84.9% rise in second-quarter profit on Thursday, driven by strong sales in core markets Europe and the United States amid stablising drug prices.
Consolidated net profit attributable to owners of the holding company rose to Rs 757 crore ($90.91 million) from 4.09 billion rupees a year earlier. Analysts on an average had expected a profit of Rs 622 crore, according to LSEG data.
The Hyderabad-based company, which makes anti-infectives, anti-diabetic and oncology medicine, said revenue from operations rose 25.7% to Rs 7,219 crore.
U.S. formulation sales, the company's largest segment accounting for 47% of its total revenue, rose 35.7% to Rs 3,385 crore, helped by strong performance in generic injectables unit Eugia. Europe formulation sales increased 16.7% to Rs 1,769 crore, contributing 24.5% to Aurobindo's total revenue.
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