Financial Daily from THE HINDU group of publications
Sunday, Oct 31, 2004
Financial Daily from THE HINDU group of publications Sunday, Oct 31, 2004 |
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Corporate Results
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Pharmaceuticals Aurobindo Pharma Q2 net falls Our Bureau
HYDERABAD: Aurobindo Pharma Ltd has suffered a significant fall in both turnover and net profit for the second quarter of the current fiscal ended September 30. While the income has come down to Rs 271.98 crore from Rs 352.88 crore in the corresponding quarter of previous fiscal, the net profit has fallen to Rs 2.56 crore from Rs 32.15 crore. According to the Managing Director, Mr K. Nityananda Reddy, the company has completely written off expenses pertaining to R&D, regulatory plants and bioequivalence studies, which affected the profitability in short term, whereas the revenues from the regulated markets were expected in future. The company said it has set up a significant target of bio-studies and the impact was visible in the second quarter of current fiscal where the company incurred an additional Rs 21 crore of expenditure on regulatory filings, bio-studies and related plant expenses. These investments would reflect in rapid ANDA filings and concomitant revenues from regulated markets over the medium term.
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