Aurobindo Pharma net profit down 22 percent to Rs 604 crore in Q3

Written by Ruchika Sharma Published On 2022-02-10T10:00:00+05:30 | Updated On 10 Feb 2022 10:00 AM IST

Aurobindo Pharma net profit down 22 percent to Rs 604 crore in Q3

New Delhi: Aurobindo Pharma on Wednesday said its consolidated net profit declined by 22.3 per cent to Rs 604.29 crore for the third quarter ended December 31, 2021, hit by high input and freight costs. The Hyderabad-based drug maker had reported a consolidated net profit of Rs 777.3 crore in the same period of previous fiscal.

"Revenue from operations declined by 1 per cent to Rs 6,002.2 crore as against Rs 6,064.8 crore in the same period of last financial year", Aurobindo Pharma was quoted as saying by PTI.

"The quarter's performance was impacted by high input and freight costs that weighed on profitability. However, our business was resilient in delivering steady revenues, led by API business benefiting from improved demand for our key products," Aurobindo Pharma Vice-Chairman and Managing Director K Nithyananda Reddy noted.

The company made progress in optimising its working capital during the quarter that has strengthened the balance sheet further, he added.

Read also: Aurobindo Pharma launches COVID-19 drug Molnupiravir

"We remain committed to resolve the regulatory issues affecting some of our facilities and are continuing to make steady progress in our complex generic product development plans. As a company, we are focused on executing on our key growth drivers to drive sustained improvement in profitability and enhance stakeholder value," Reddy stated.

The company said its board has approved a third interim dividend of 150 per cent, Rs 1.50 per equity share of Re 1 each for the financial year 2021-22.

Read also: Aurobindo arm, Orion expand licensing deal to commercialize biosimilars pipeline in select European markets

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 155 countries.

The company has 27 manufacturing and packaging facilities that are approved by leading regulatory agencies including USFDA, UK MHRA, EDQM, Japan PMDA, WHO, Health Canada, South Africa MCC, Brazil ANVISA.

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Source : with agency inputs

Ruchika Sharma

Ruchika Sharma joined Medical Dialogue as an Correspondent for the Business Section in 2019. She covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She has completed her B.Com from Delhi University and then pursued postgraduation in M.Com. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751