Aurobindo Pharma net profit drops 41 percent to Rs 409 crore in Q2

The Hyderabad-based drug firm had posted a net profit of Rs 697 crore in the July-September period of last fiscal.

Revenue from operations also declined to Rs 5,739 crore in the September quarter as against Rs 5,942 crore in the year-ago period.

Aurobindo Pharma Vice-Chairman and Managing Director K Nithyananda Reddy said the company's second-quarter performance was subdued, mainly due to macro-environment factors and higher competitive intensity for some products in the US.

"However, we are confident that our robust pipeline of new products will provide impetus to the future growth trajectory," he added.

Reddy noted that the company's continued focus on biosimilars, R&D, innovation, and increasing manufacturing capacity will enhance its product offerings in various markets.

"We are confident that, the right measures and growth-led strategies will help improve our profitability and margins over the medium to long term," he added.

The drug firm reported an 11 percent year-on-year dip in US formulations revenue to Rs 2,638 crore.

Aurobindo Pharma Limited is a 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, and 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.