Aurobindo Pharma Q2 net rises 4% to ₹848 crore

Aurobindo Pharma reported September quarter consolidated net profit rose nearly 4% to ₹848 crore compared with ₹817 crore a year earlier aided by higher formulations revenue.

The net profit came on a more than 6% increase in the revenue from operations of the Hyderabad-headquartered generic drugmaker to ₹8,286 crore (₹7,796 crore).

“Q2 has been another steady quarter for Aurobindo, demonstrating resilience of our base business and the depth of product portfolio. We continue to see healthy demand across key markets, with our U.S. and Europe businesses performing in line with expectations,” vice-chairman and MD K. Nithyananda Reddy said.

Share of formulations in the revenue at ₹7,325 crore (₹6,640 crore) was 10.3% higher year on year, while contribution of active pharmaceutical ingredients (API) dipped 16.9% to ₹961 crore (₹1,156 crore).

“With the momentum we have built and all strategic initiatives progressing as planned, we are confident of meeting our annual guidance and sustaining long-term value creation,” he said.