The Hindu Business Line : Aurobindo Pharma net up 147 pc

AUROBINDO Pharma Ltd (APL) has reported a growth of 28 per cent in turnover at Rs 416.97 crore and 147 per cent in net profit at Rs 26.19 crore for the third quarter of current fiscal ended December 2005. This results in an earnings per share of Rs 4.92 (Rs 2.09) on an equity base of Rs 26.63 crore (Rs 25.38 crore).

In the corresponding quarter of previous fiscal, the company posted a turnover of Rs 323.34 crore and a net profit of Rs 10.59 crore.

For the nine-month period, its sales turnover stood at Rs 1,028.31 crore (Rs 882.61 crore) and net profit at Rs 31.84 crore (Rs 31.17 crore).

In a press release here, the company said its investments in the regulated markets have begun to show results. The export sales during the quarter stood at Rs 233.8 crore (Rs 152.3 crore), a growth of 54 per cent. Exports now constitute 57 per cent of total sales compared with 48 per cent of sales in the corresponding quarter of previous fiscal.

The company has also recorded a significant growth of 125 per cent in sales of formulations, which stood at Rs 92.5 crore (Rs 41.2 crore). Exports now constitute 23 per cent of total sales (13 per cent).

During the quarter under review, the company has filed 10 abbreviated new drug applications and 13 drug master files with the US Food and Drug Administration (USFDA) and 70 formulation filings in other markets.

The total number of formulation filings as at the end of December 2005 stood at 364. During the quarter, the company filed additional 11 patents, taking the cumulative filings to 163.

During the quarter, the company received final approval for Amoxicillin tablets and capsules, Cephalexin capsules and Mirtazapine orally disintegrating tablets in the US market.

Under the PEPFAR programme of the US Government, the company has received three approvals during the quarter under review. The USFDA has tentatively approved Lamivudine oral solution, Stavudine oral solution and Nevirapine oral suspension, further strengthening the company's portfolio for the PEPFAR programme at 10 products.