Aurobindo Pharma Q1 net loss widens to Rs 129 cr
Company had posted a net loss of Rs 122.80 crore for the corresponding period of previous fiscal
Aurobindo Pharma today reported a 4.97% widening of its consolidated net loss to Rs 128.91 crore for the quarter ended June 30, 2012, mainly on account of high manufacturing costs.
The company had posted a net loss of Rs 122.80 crore for the corresponding period of previous fiscal, Aurobindo Pharma said in a filing to BSE.
Consolidated net sales of the company, however, rose to Rs 1,197.44 crore for the quarter under consideration from Rs 1,065.02 crore for the same period a year ago.
Commenting on the results, Aurobindo Pharma Managing Director N Govindarajan said: "While we have recorded growth on our top line, high cost of manufacturing like power & fuel, etc, has impacted our operating profits".
According to him, the company is positive that planned new formulation product launches along with growing business of high value Active Pharmaceutical Ingredients (API) in advanced markets are expected to augment it's
operational profitability as the year progresses.
The company's formulations sales stood at Rs 654.6 crore for the first quarter this fiscal while API sales were at Rs 587.1 crore, Aurobindo Pharma said.
Formulations sales constitute 52.7%, while API's form 47.3% of the gross sales, it added.
During the first quarter this fiscal, nine abbreviated new drug applications (ANDAs) were filed in US taking the cumulative filings to 248. As many as 31 dossier filings were made in Europe during this period taking the cumulative filings there to 1289, Aurobindo Pharma said.
Shares of Aurobindo Pharma today closed at Rs 112 per scrip on BSE, down 0.49% from its previous close.