Aurobindo Pharma reports 21.7 per cent decline in profit, says expenses up

The company was able to improve its US formulations revenues by 6.1 per cent year-on-year at Rs 22.27 billion.

Drug major Aurobindo Pharma Limited on Monday reported a 21.7 per cent decline in net profit at Rs 6.11 billion for the quarter ended September 2018, owing to rise in costs. The company's net profit was Rs 7.81 billion in the corresponding quarter previous year.

Total income for the quarter under review grew 7.42 per cent to Rs 47.78 billion helped by increased sales revenue from the US and other countries as compared with Rs 44.46 billion in the year-ago period.

The overall expenses during the quarter under review stood at Rs 39.64 billion, an increase of 14.3 per cent over Rs