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Aurobindo Pharma Ltd posted consolidated net loss of Rs 123 crore in the first quarter ended June 30, 2011.
The Hyderabad-based company earned a net profit of Rs 51.5 crore profit in the corresponding quarter of the previous year.
The total revenue, however, increased to Rs 1,100 crore (Rs 943 crore) driven by 26 per cent increase in formulation sales, among others.
The loss per share was at Rs 4.20.
During the quarter, Aurobindo had redeemed and extinguished its entire outstanding Zero Coupon Foreign Currency Convertible Bonds (FCCBs) of $139 million.
The redemption premium paid, including withholding tax in May 2011, amounted to Rs 320 crore and was shown as an exceptional item during the quarter.
Net profit
Without this exceptional item, the net profit showed a growth of 46.5 per cent at Rs 110 crore.
“On the operational side, we have been taking all steps necessary to address and resolve the regulatory challenges with the US Food and Drug Administration on unit IV cephalosporin facility,” Mr Ramprasad Reddy, Chairman, Aurobindo Pharma, said in a release issued here on Saturday.
The recently-commissioned formulations facility in the special economic zone in Hyderabad would contribute `significantly' to company's growth this year, Mr Reddy added.
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