Aurobindo Pharma Q3 net profit up 2.8% at Rs 5.95 billion

Aurobindo Pharma Limited has reported a 2.8 per cent increase in consolidated net profit at Rs 5.95 billion for the quarter ended December 2017 as compared to Rs 5.79 billion in the corresponding quarter previous year.

The Hyderabad-based generic drug major's revenues grew 11 per cent at Rs 43.36 billion during the quarter under review from Rs 39.06 billion in the year-ago period on the back of a rise in formulation sales across the geographies.

Particularly, the company's formulation sales in Europe rose 37 per cent at Rs 11.72 billion while the same in the US market grew by 9.4 per cent to touch Rs 19.1 billion from Rs 17.45 in the corresponding previous quarter.

Formulation sales registered an overall growth of 12.2 per cent during the quarter under review despite a 30.1 percent fall in antiretroviral (ARV) sales at Rs 2.39 billion during the period.

Commenting on the company's performance, Aurobindo managing director N Govindarajan said,"All our key markets continue to perform well and have shown a healthy growth trend. Considering the one-off US tax charge, the profitability is in-line with our expectations. We continue to invest in enhancing our speciality and complex generics pipeline, for a sustainable growth."