Aurobindo Pharma FY11 net up marginally at Rs 563 cr

Drug firm Aurobindo Pharma today said its consolidated net profit rose marginally to Rs 563.45 crore for the year ended March 31, 2011.

The company had reported net profit of Rs 563.40 crore in the previous fiscal, Aurobindo Pharma said in a statement.

The company's net sales rose to Rs 4,381.48 crore for the year ended March 31, 2011, as compared to Rs 3,575.43 crore in the last fiscal.

The company's board has recommended final dividend of 100% (Re 1 per share of Re 1 each) on the equity share capital of the company for the year 2010-2011, subject to approval of members.

Earlier in November, the firm had also paid an interim dividend of 100%.

Commenting on the company's performance Aurobindo Pharma Chairman Ramprasad Reddy said: "Aurobindo is pleased to join the Billion Dollar Club of Indian pharmaceuticals fraternity through its commitment to the customers and quality with stronger business and delivery capabilities."

He further added: "We continue to augment our formulations and active ingredients businesses and create value for our stakeholders."

On a standalone basis, the company reported a net profit of Rs 593.80 crore, compared to Rs 525.76 crore in the previous fiscal.

The company's net sales stood at Rs 4,133.12 crore for the financial year ended March 31, 2011, as against Rs 3,252.27 crore in the last fiscal.

The company's formulation sales for the year ended March 31, 2011 increased by 30.8% to Rs 2,423.1 crore, as compared to Rs 1,852.1 crore in the last fiscal.

During the year, the Hyderabad-based firm filed 37 abbreviated new drug applications in the US, taking the cumulative filings to 209, it said.

The company also filed 227 dossier filings in Europe in FY11 taking the total filings to 991, it added.

Shares of Aurobindo Pharma today closed at Rs 181.70 on the Bombay Stock Exchange, down 0.47% from its previous close.