Aurbindo Pharma posts net profit of Rs 705 crore in December quarter

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Published: February 7, 2020 12:59 AM

Revenues from anti-retroviral (ARV) formulations stood at Rs313.4 crore as against Rs281.3 crore, an increase by 11.4% y-o-y.

Aurbindo Pharma, Aurbindo Pharma net profit, API revenues, USFDA, API business, EU formulations revenueGiving a segmental analysis, the company said that the US revenues for Q3FY20 witnessed a growth of 22.0% y-o-y to Rs2,969.4 crore accounting 50.4% of consolidated revenue.

Aurobindo Pharma has registered a net profit of Rs705.3 crore in Q3FY20 as against Rs712.2 crore in the corresponding previous period. Revenue from operations stood at Rs5,895 crore with a growth of 11.9% over the corresponding previous period, buoyed by formulation revenues which had a growth of 17.4% to Rs5,104.9 crore and accounted for 86.6% of total revenues. While the US formulations revenues registered Rs2,969.4 crore as against Rs2,433.2 crore in Q3FY19, a growth of 22.0% y-o-y, the Europe formulations revenues were Rs1,476.3 crore, an increase of 14.2% against Q3FY19.

Revenues from anti-retroviral (ARV) formulations stood at Rs313.4 crore as against Rs281.3 crore, an increase by 11.4% y-o-y. The API revenues came in at Rs789.8 crore as against Rs921.7 crore in the corresponding previous period. “We continue to perform well across all our key geographies. We remain focused on strengthening our existing businesses and developing a differentiated and specialty driven product portfolio. We are committed to resolve all pending regulatory issues and continuously improve quality,” N Govindarajan, MD, said in a statement.

Giving a segmental analysis, the company said that the US revenues for Q3FY20 witnessed a growth of 22.0% y-o-y to Rs2,969.4 crore accounting 50.4% of consolidated revenue. On constant currency basis, revenue grew by 23.5% y-o-y. The company filed six abbreviated new drug application (ANDA) with the USFDA including four injectables in Q3FY20. It has received final approval for four ANDAs and tentative approval for one ANDA. The company has launched five products during the quarter. As on December 31, 2019, on a cumulative basis, the company filed 572 ANDAs with the USFDA and received approval for 418 ANDAs including 27 tentative approvals.

The EU formulations revenue in Q3FY20 witnessed a growth of 14.2% y-o-y to Rs1,476.3 crore, accounting for 25% of consolidated revenue. In Euro terms, revenue grew by 19.1% y-o-y. The ARV business revenue for Q3FY20 was at Rs313.4 crore as against Rs281.3 crore in Q3FY19, increased by 11.4% and accounted for 5.3% of revenue. Revenue from growth markets formulations in Q3FY20 was up by 1.6% y-o-y to Rs345.9 crore and accounted for 5.9% of revenue. The API business clocked a sales of Rs789.8 crore as against Rs921.7 crore in the corresponding previous period.

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