Aurobindo Pharma net loss at Rs 129 cr

Hyderabad-based Aurobindo Pharma Limited reported a consolidated net loss of Rs 129.03 crore for the quarter ended June 30, 2012, from Rs 122.8 crore net loss it had incurred in the corresponding quarter last year. This was on account of higher expenses and interest costs besides an over Rs 200- crore hit on the foreign exchange front.

In the January-March 2012 quarter, the company had reported a net profit of Rs 107.42 crore on the back of a Rs 100-crore foreign exchange gain.

Total income, however, grew 12.8 per cent to Rs 1,214.41 crore from Rs 1,076.87 crore while expenditure increased 18.31 per cent to Rs 1,133.5 crore as compared with Rs 958.11 crore in the corresponding previous quarter.

“While we recorded growth in our top line, high cost of manufacturing like power and fuel impacted our operating profits. However, we are positive that planned new formulation launches along with growing business of high value APIs (active pharmaceutical ingredients) in advanced markets would augment our operational profitability as the year progresses,” N Govindarajan, managing director of the company, said.

During the three-month period, the more profitable business of formulation sales grew only 5.1 per cent to Rs 654.6 crore with anti-retro viral (ARV) products, used in treatment of HIV patients, declining 33.7 per cent, according to a press release.

However, the company's API business saw a 27.9 per cent growth to Rs 587.1 crore while the share of formulations to gross sales came down to 52.7 per cent from 57.6 per cent in the year ago period.