Aurobindo Pharma Q1 net profit slips 12% to Rs 4.5 bn over rising expenses

Drug firm Aurobindo Pharma on Thursday reported a 12.10 per cent decline in its consolidated net profit to Rs 4.55 billion for the first quarter ended June 30, mainly on account of rise in expenses.

The company had posted a net profit of Rs 5.18 billion in the corresponding period previous fiscal, Aurobindo Pharma said in a BSE filing.

The company's revenue from operations stood at Rs 42.5 billion for the quarter under consideration. It was Rs 36.78 billion for the year-ago period.

Total expenses of the company for the first quarter were Rs 37.23 billion, compared to Rs 29.92 billion in the same period last fiscal.

"We have achieved 16 per cent growth in revenues led by a healthy growth across key geographies and segments," Aurobindo Pharma MD N Govindarajan said.

However, profitability was impacted largely due to certain one-off product related provisions, he added.

"With consistent focus on execution and enhancement of capabilities, we have started filing dermatology ANDAs (abbreviated new drug applications) and is on track in other speciality segments," Govindarajan said.

Shares of Aurobindo Pharma today closed at Rs 600.90 per scrip on BSE, down 1.72 per cent from previous close.