Aurobindo posts Rs 18.6 cr net profit

Total income of the company grew 41.33% to Rs 1,719.48 cr from Rs 1,216.63 cr

Hyderabad-based Aurobindo Pharma Limited reported a consolidated net profit of Rs 18.60 crore for the quarter ended June, 2013, as compared with a net loss of Rs 128.91 crore in the same period last year.

Total income of the company grew 41.33 per cent to Rs 1,719.48 crore from Rs 1,216.63 crore in the year ago period on the back of a strong upside in formulations business .

The company said its bottomline was dragged down by the mark-to-market component of its dollar denominated debt because of rupee depreciation during the quarter. However, the foreign exchange loss for the first quarter under review stood at Rs 172.41 crore, a tad lower than Rs 206.45 crore loss on this front in the corresponding previous quarter.

"Our focus on costs and the qualitative aspect of sales across key markets has reflected positively on our revenues and operating margins on a year on year basis," said N Govindarajan, managing director of the company.

The growth in formulations was primarily driven by the US sales, which grew 90 per cent to Rs 624.8 crore as compared with Rs 328.3 crore in the year ago period.

Expenditure for the period saw an increase of 30.55 per cent to Rs 1,479.77 crore as against Rs 1,133.50 crore in the corresponding previous quarter.