Aurobindo Pharma Q3 PBT rises 6% to Rs 942.8 cr; revenues up 11.9%

Aurobindo Pharma Limited on Thursday reported a 6 per cent increase in profit before tax (PBT) at Rs 942.8 crore for the quarter ended December, 2019, as compared to Rs 889 crore in the corresponding period of 2018, driven by a healthy revenue growth in the US market.

The company's revenues grew 11.9 per cent at Rs 5,895 crore in the quarter under review as compared to Rs 5,269.7 crore in the year ago period. The formulations revenues for the quarter posted a growth of 17.4 per cent year-on-year at Rs 5,104 crore, accounting for 86.6 per cent of the total revenues. Of this, US formulations' revenues grew by 22 per cent to Rs 2,969.4 crore, accounting for 50.6 per cent of the consolidated revenues of the company during the period.

Formulations revenues from Europe, the second largest market for Aurobindo, grew by 14.2 per cent at Rs 1,476.3 crore during the quarter ended December, 2019, while the growth markets posted a marginal 1.6 per cent growth in revenues at Rs 345.9 crore.

"We continue to perform well across all our key geographies. We remain focused on strengthening our existing businesses and developing a differentiated and specialty driven product portfolio. We are committed to resolving all pending regulatory issues and continuously improving quality," Aurobindo managing director N Govindarajan said.

Meanwhile, revenues from the company's active ingredients (API) division declined 14.3 per cent to Rs 789.8 crore as compared to Rs 921.7 crore in the year ago period. The API revenues account for 13.2 per cent of the total revenues of the company.