Aurobindo Q2 net up 21% at Rs 451 cr

The formulations revenue from the US rose 26 to Rs 1,477 cr

Aurobindo Pharma reported a 21.38 per cent rise in consolidated net profit at Rs 451.76 crore for the quarter ended September 2015 on the back of a 20 per cent rise in formulations revenues.

Total income from operations stood at Rs 3,333.5 crore as compared with Rs 2,881.22 crore in the year ago period, registering a 15.7 per cent growth.

The formulations segment has expanded by around 3 per cent, constituting 79.5 per cent of the total revenues in the quarter under review.

More importantly, the US formulations revenues grew 26 per cent at Rs 1,477.5 crore from Rs 1,174 crore in the corresponding previous quarter.

The share of active ingredients (APIs) has come down to 20.5 per cent of the total revenues in this quarter.

"We had a healthy year-on-year performance during the quarter contributed by most of our business verticals. We expect to sustain the performance with the continuation of approvals and also by further strengthening our product portfolio through complex products and differentiated technology," N Govindarajan, managing director of Aurobindo said in a statement.

However, Aurobindo's formulations business in Europe, the second largest revenue generator for the company, had remained flat. So is the case of API business.

The company has generated 87 per cent of its sales through exports while domestic market contributed 13 per cent of the total sales. Export sales stood at Rs 2,943 crore and the domestic sales were Rs 428 crore, according to Aurobindo.