Aurobindo Q3 net at Rs 91 cr

Aurobindo Pharma Limited reported a consolidated net profit of Rs 91 crore for the quarter ended December 2012 on the back of new launches and higher sales as compared with a net loss of Rs 28.57 crore in the corresponding quarter previous year.

Total income for the quarter grew 22.23 per cent to Rs 1,551 crore from Rs 1,263.73 crore in the year ago period. Formulations sales, which accounted for Rs 911.8 crore, increased 22.5 per cent adding to the gross profit margins.

Commenting on the performance, Aurobindo managing director N Govindarajan said: "We continue to see traction on our performance both in sales and earnings year-on-year on account of improved business mix in formulations from new product approvals and launches in the US market."

The United States Food and Drugs Administration (US FDA) has cleared Unit-4 after first inspection and Unit-12 on re-inspection and started approving products from these facilities. This will pave the way for consolidating the injectable formulations business, according to him.

The company's US sales increased 57.8 per cent to Rs 513.4 crore in the quarter under review from Rs 325.4 crore in the corresponding previous quarter. Domestic sales posted a growth of 32.1 per cent to Rs 424.1 crore from Rs 3121.1 crore in the year ago period.