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Business EconomyPosted at: Nov 13 2022 12:15AM


Aurobindo Q2 net profit down 41.2 pc to Rs 409 cr in current fiscal

Hyderabad, Nov 12 (UNI) Aurobindo Pharma on Saturday reported a 41.2 percent slump in second-quarter consolidated net profit to Rs 409.4 crores compared with Rs 696.7 crore a year ago.
Revenue from operations during the quarter also decreased by 3.4 per cent to Rs 5,739.4 crore against Rs 5,941.9 crore for the corresponding period in the previous year ,Hyderabad-based Pharma major Aurobindo said in a statement here.
US formulations revenue also decreased by 11.1 per cent YoY to Rs 2,637.6 crores and also Europe formulation revenue decreased by 8.8 per cent Y-o-Y to Rs 1,516.2 crores, mainly due to Euro currency depreciation, it said.
Research & Development (R&D) spend at Rs 276 crore, 4.8 per cent of revenues (Q1 FY23: 5.0%)
Received final approval for 9 ANDAs including 5 injectable products from the USFDA, the pharma company said.
Basic and Diluted EPS is INR 6.99 per share.
Commenting on the Company’s performance, Mr. K. Nithyananda Reddy, Vice-Chairman and Managing Director of the Company said: ``Our Q2FY23 performance was subdued, mainly due to the macro-environment factors and higher competitive intensity for some products in the U.S”.
However, we are confident that our robust pipeline of new products will provide impetus to the future growth trajectory. Our continued focus on Biosimilar, R&D, innovation and increasing manufacturing capacity will enhance our 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.
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