Formulation revenues recorded a growth of 9.2% YoY to Rs 5,144.3 crore and accounted for 86.8% of total revenues. (Representative image)Aurobindo Pharma has reported a net profit of Rs 780.6 crore as against Rs 635.8 crore in the corresponding previous period, a growth of 22.8% YoY in Q1 following an increase in its formulation business. Revenue from operations stood at Rs 5,924.8 crore, a growth of 8.8% over the corresponding previous period.
“Amidst challenging times, we have started the financial year by reporting a healthy performance. We have ensured the business continuity without compromising the safety and well-being of our employees. We are committed to adhere to quality standards by investing continuously and developing a differentiated product pipeline for a sustainable growth,” N Govindarajan, MD, said in a statement.
Formulation revenues recorded a growth of 9.2% YoY to Rs 5,144.3 crore and accounted for 86.8% of total revenues. The formulation revenues from the US market showed a growth of 15.6% YoY to Rs 3,107.1 crore, accounting 52.4% of consolidated revenue. The company filed 14 ANDAs with the USFDA including three injectables in Q1FY21 and has received final approval for 10 ANDAs in Q1FY21. As on June 30, 2020, on a cumulative basis, the company filed 604 ANDAs with the USFDA and received approval for 438 ANDAs including 28 tentative approvals. It has launched six products during the quarter including one injectable.
Revenues from anti-retroviral (ARV) formulations stood at Rs 425.5 crore compared to Rs 318.5 crore in Q1FY20, an increase of 33.6% YoY and accounted for 7.2% of revenue. However, Europe formulation revenue declined by 5% YoY to Rs 1,322.2 crore, accounting 22.3% of consolidated revenue. In Euro terms, revenue declined by 10.6% YoY. Revenue from growth markets formulations also declined by 7.6% YoY to Rs 289.6 crore and accounted for 4.9% of revenue.
The active pharmaceutical ingredient (API) business posted revenue of Rs 780.2 crore, an increase of 6.5% YoY and contributed 13.2% to the consolidated revenues. The company filed three Drug Master Files (DMFs) with the USFDA during the quarter.
Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.
Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.
