Aurobindo Pharma has posted 4.6% growth in its net profit at Rs. 639.5 crore for the September quarter against Rs. 611.4 crore in the corresponding period last financial year.
Aurobindo Pharma has posted 4.6% growth in its net profit at Rs. 639.5 crore for the September quarter against Rs. 611.4 crore in the corresponding period last financial year. Revenue from the operations saw growth of 17.9% at Rs. 5,600.5 crore against Rs. 4,751.4 crore over the corresponding period last financial year following consistent growth in the US market.
“We had another quarter of healthy performance where we continued to grow in the US and Europe, which are our focused geographies. Our R&D initiatives have been progressing well across the products basket, and we have started clinical trials for our first biosimilar product in Q3FY20. We reiterate that we are committed to quality adherence and are in the process of resolving all pending regulatory issues.” N Govindarajan, MD, said in a statement.
Revenues from the formulation segment posted 21.8% y-o-y growth to Rs. 4,793.8 crore and accounted for 85.6% of total revenues. The US formulation revenue saw growth of 27.3% y-o-y to Rs. 2,835.5 crore, accounting 50.6% of consolidated revenue. On a constant currency basis, revenues grew by 26.8% y-o-y. The Europe formulations revenue registered Rs. 1,401.3 crore, an increase of 21.2% against Q2FY19, while the growth markets posted growth of 3.8% y-o-y to Rs. 319.2 crore. The company has filed 20 Abbreviated New Drug Application (ANDA) with the USFDA, including two injectables in Q2FY20. It has received final approval for three ANDAs and tentative approval for one ANDA. The company has launched 10 products, including three injectables during the quarter. As on September 30, 2019, on a cumulative basis, the company has filed 569 ANDAs with USFDA and received approval for 416, including 27 tentative approvals.
The revenues from anti-retrovial (ARV) business was at Rs. 237.9 crore against Rs. 244.0 crore in Q2FY19, down by 2.5% and accounted for 4.2% of revenue. The active pharmaceutical ingredient (API) business clocked sales of Rs. 805.8 crore against Rs. 816.6 crore in the corresponding previous period. The company has filed three drug master files (DMFs) with the USFDA during the quarter.