Aurobindo Pharma Q3 net marginally down at Rs 705 cr, revenue up 12%

Aurobindo Pharma on Thursday said its net profit for the quarter ended December 31, 2019 was marginally down by one per cent to Rs 705.3 crore against Rs 712.2 crore during the corresponding period last fiscal.

According to a filing with the bourses, revenues from operations during the quarter under review was up by nearly 12 per cent to Rs 5,895 crore. It was Rs 5,269.7 crore in Q3 FY19.

Commenting on the performance, N Govindarajan, Managing Director of the company said: "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 resolve all pending regulatory issues and continuously improve quality."

Formulation revenue for the quarter posted a growth of 17.4 per cent YoY to Rs 5,104.9 crore and accounted for 86.6 per cent of total revenues.

US formulations revenue registered 22 per cent growth at Rs 2,969.4 crore against Rs 2,433.2 in the third quarter of FY19 while Europe formulations revenue was at Rs 1,476.3 crorean increase of 14.2 per cent against Q3FY19.

The Board of Directors of the company at its meeting held on Thursday approved a second interim dividend of Rs 1. 75 per equity share of Re.1 each on the equity share capital of the company for the financial year 2019-20.