Aurobindo Pharma Ltd’s net profit increased 23 per cent at ₹781 crore in the first quarter ended June 30, 2020, against ₹636 crore in the corresponding quarter of the previous financial year.
The total revenue of the Hyderabad-based company grew 8.8 per cent at ₹5,925 crore, against ₹5,444 crore in the same period last year.
“Amidst challenging times, we have started the financial year by reporting a healthy performance,” N Govindarajan, Managing Director, Aurobindo Pharma, said in a release.
The business continuity was ensured ‘without compromising’ the safety and well-being of our employees.
“We are committed to adhere to quality standards by investing continuously and developing a differentiated product pipeline for a sustainable growth,” he added.
Revenue from formulations for the quarter recorded a growth of 9.2 per cent at ₹5,144 crore, accounting for 86.8 per cent of total revenues.
US revenue grew 15.6 per cent to ₹3,107 crore, accounting for 52.4 per cent of consolidated revenue.
Aurobindo had filed four Abbreviated New Drug Applications (ANDAs) with the USFDA, including three injectables during the first quarter, and received final approval for 10 ANDAs.
Europe formulation revenue at ₹1,322 crore, however, declined 5 per cent; revenue from growth markets too was down 7.6 per cent.
Research & development (R&D) spend stood at ₹254.5 crore, accounting for 4.3 per cent of revenues.
The Board of Directors of the company has approved an interim dividend at 125 per cent, i.e. ₹1.25 per equity share of ₹1 each for financial year 2020-21.