- Home
- Medical news & Guidelines
- Anesthesiology
- Cardiology and CTVS
- Critical Care
- Dentistry
- Dermatology
- Diabetes and Endocrinology
- ENT
- Gastroenterology
- Medicine
- Nephrology
- Neurology
- Obstretics-Gynaecology
- Oncology
- Ophthalmology
- Orthopaedics
- Pediatrics-Neonatology
- Psychiatry
- Pulmonology
- Radiology
- Surgery
- Urology
- Laboratory Medicine
- Diet
- Nursing
- Paramedical
- Physiotherapy
- Health news
- Fact Check
- Bone Health Fact Check
- Brain Health Fact Check
- Cancer Related Fact Check
- Child Care Fact Check
- Dental and oral health fact check
- Diabetes and metabolic health fact check
- Diet and Nutrition Fact Check
- Eye and ENT Care Fact Check
- Fitness fact check
- Gut health fact check
- Heart health fact check
- Kidney health fact check
- Medical education fact check
- Men's health fact check
- Respiratory fact check
- Skin and hair care fact check
- Vaccine and Immunization fact check
- Women's health fact check
- AYUSH
- State News
- Andaman and Nicobar Islands
- Andhra Pradesh
- Arunachal Pradesh
- Assam
- Bihar
- Chandigarh
- Chattisgarh
- Dadra and Nagar Haveli
- Daman and Diu
- Delhi
- Goa
- Gujarat
- Haryana
- Himachal Pradesh
- Jammu & Kashmir
- Jharkhand
- Karnataka
- Kerala
- Ladakh
- Lakshadweep
- Madhya Pradesh
- Maharashtra
- Manipur
- Meghalaya
- Mizoram
- Nagaland
- Odisha
- Puducherry
- Punjab
- Rajasthan
- Sikkim
- Tamil Nadu
- Telangana
- Tripura
- Uttar Pradesh
- Uttrakhand
- West Bengal
- Medical Education
- Industry
Aurobindo Pharma net profit jumps over 4-fold to Rs 2,946.32 crore in Q3
New Delhi: Drug firm Aurobindo Pharma on Wednesday reported an over four-fold jump in consolidated net profit to Rs 2,946.32 crore for the quarter ended December 2020, mainly on account of exceptional gains.
The company had posted a net profit of Rs 705.31 crore in the corresponding period of the previous fiscal, Aurobindo Pharma said in a filing to BSE.
Consolidated revenue from operations stood at Rs 6,364.91 crore. It was Rs 5,895 crore for the same period a year ago, it added.
Profit before tax includes exceptional items of Rs 2,813.89 crore for the quarter/period ended 31 December 2020.
This consists of Rs 3,093.37 crore gain on disposal of business assets of a wholly-owned step-down subsidiary, Natrol LLC, Rs 152.39 lakh gain on account of remeasurement of equity interest in Eugia Pharma SpeCialties Ltd and Rs 431.87 crore impairment charges taken considering the difficult economic conditions and the continued impact of COVID-19 in certain markets towards product related intangibles and goodwill, the filing said.
"We maintained growth momentum in our revenue and profitability despite COVID challenges. We are witnessing a steady progress in our specialty pipeline and continue to focus on growing our business, improving efficiencies and productivity," Aurobindo Pharma MD N Govindarajan said.
Formulation revenue for the quarter recorded a growth of 11.3 per cent YoY to Rs 5,682.4 crore and accounted for 89.3 percent of total revenues, Aurobindo Pharma said.
In Q3 FY21, API business posted a revenue of Rs 682.5 crore and contributed 10.7 per cent to the consolidated revenue.
Net profit after JV share, minority interest excluding exceptional items stood at Rs 836.6 crore, the company said.
Research and development spend at Rs 390.5 crore was 6.1 per cent of revenues.
The board has approved third interim dividend of Rs 1.5 per equity share of Re 1 for the year FY20-21, the filing said.
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