Aurobindo Pharma Q3 net up 39% at Rs 534 cr

Total income from operations for the company grew by 10% at Rs 3,495 cr

Hyderabad-based Aurobindo Pharma Limited has reported a 39.18 per cent jump in consolidated net profit at Rs 534.65 crore for the quarter ended December, 2015 on the back of higher formulations revenues, particularly from the US.

The company had reported a net profit of Rs 384.35 crore in the corresponding quarter previous year.

Total income from operations for the company grew by 10 per cent at Rs 3,495.50 crore as compared with Rs 3166.16 crore in the year ago period.

The formulations business grew by 12 per cent during the quarter, primarily on account of higher growth in US and RoW market.The Europe sales declined by 9.6 per cent in rupee terms primarily due to the currency impact as Euro depreciated by 6.5 per cent during the quarter, according to the company.

Adding to the profit margins, the share of formulations business rose to 80.3 per cent from 79 per cent of the total revenues while that of the active pharmaceutical ingredients(APIs) declined to 19.7 per cent from 21 per cent during the quarter. The company's international sales of Rs 3,114 constitute 88 per cent cent of the total sales.

"We witnessed good growth on the back of new launches during the quarter. With focus on market penetration, new product introductions including specialty segment and complex product R&D, we look forward to maintain the growth momentum," N Govindarajan, managing director of Aurobindo said.

During the quarter the company had received 12 final and 4 tentative approvals for the abbreviated new drug applications (ANDA).