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Aurobindo Pharma second-quarter profit rises 29 percent, beats estimates


(Reuters) - India's Pharma Ltd posted a better-than-expected 29 percent rise in quarterly profit on Thursday, helped by higher sales at its formulations business in the United States.

Net profit after taxes and non-controlling interest was 7.81 billion rupees ($120.22 million) in the second quarter ended Sept. 30, compared with 6.06 billion rupees a year earlier, the Hyderabad-headquartered drugmaker said in a statement.

Analysts on average had expected a profit of 6.87 billion rupees, Thomson data showed.


S. formulations sales, which accounted for 47 percent of total revenue, rose 21 percent to 20.98 billion rupees due to new product launches and higher sales of existing products, the company said.

Revenue from its Active Pharmaceuticals Ingredients (API) business edged 0.4 percent up.

($1 = 64.9650 Indian rupees)

(Reporting by Jessica Kuruthukulangara in Bengaluru, editing by David Evans)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, November 09 2017. 21:50 IST