Aurobindo Pharma Q2 net profit dips 21.7 pc to Rs 611.44 cr

Drug firm Aurobindo Pharma Monday reported 21.70 per cent dip in consolidated net profit to Rs 611.44 crore for the quarter ended September 30, 2018 mainly on account of rise in expenses.

The company had posted a net profit of Rs 780.97 crore for the corresponding period of the previous fiscal, Aurobindo Pharma said in a filing to the BSE.

Consolidated total revenue from operations of the company stood at Rs 4,751.40 crore for the quarter under consideration. It was Rs 4,435.89 crore for the same period last year.

The total expenses of the company stood at Rs 3,964.20 crore for the second quarter of the current fiscal. It was Rs 3,468.36 crore for the same period of the previous fiscal.

"We have delivered a healthy quarter in terms of both financial performance and developments in differentiated portfolio," Aurobindo Pharma MD N Govindarajan said.

On the company's differentiated portfolio front, it has filed two abbreviated new drug applications (ANDAs) in dermatology and one nasal ANDA in the first half of FY 19, he added.

"Our focused efforts to commercialise differentiated product basket are aimed at creating sustainable profitability for the future," Govindarajan said.

The company's board has approved interim dividend of Rs 1.25 per equity share of one rupee each on the equity share capital of the company for 2018-19, Aurobindo Pharma said.

Shares of Aurobindo Pharma Monday closed at Rs 798.30 per scrip on the BSE, down 1.84 per cent from its previous close.