Aurobindo Pharma Q3 net profit zooms over four-fold to Rs 2,946.32 cr

Aurobindo Pharma reported an over four-fold jump in its consolidated net profit to Rs 2,946.32 crore for the quarter ended December 31, 2020 mainly on account of one time exceptional gains.

Drug firm Aurobindo Pharma on Wednesday reported an over four-fold jump in its consolidated net profit to Rs 2,946.32 crore for the quarter ended December 31, 2020 mainly on account of one time exceptional gains.

The company had posted a net profit of Rs 705.31 crore for the corresponding period of the previous fiscal, Aurobindo Pharma said in a BSE filing.

The consolidated revenue from operations of the company stood at Rs 6,364.91 crore. It was Rs 5,895 crore for the same period a year ago, it added.

The profit before tax includes exceptional items of Rs 2,813.89 crore for the quarter ended in December consists of disposal of business assets of a wholly-owned step-down subsidiary, Natrol LLC, on account of remeasurement of equity interest in Eugia Pharma Specialties Ltd and impairment charges taken considering the difficult economic conditions and the continued impact of COVID 19 in certain markets towards product-related intangibles and goodwill, the filing said.

"We maintained growth momentum in our revenue and profitability despite COVID challenges. We are witnessing steady progress in our specialty pipeline and continue to focus on growing our business, improving efficiencies and productivity", Aurobindo Pharma Managing Director N Govindarajan said.

The board has approved a third interim dividend of Rs1.5 per equity share of Re 1/- for the financial year 2020-21, the filing said.

Shares of Aurobindo Pharma closed at Rs 967.85 per scrip on BSE, up 0.88 percent from its previous close.