Aurobindo Pharma’s consolidated net profit declined 22.3 per cent to ₹604 crore in the quarter ended December 31, 2021, against ₹777 crore in the corresponding quarter of the previous financial year.
The total revenue of the Hyderabad-based company too decreased by one per cent to ₹6,002 crore compared to ₹6,064 crore in the same period last year. The revenue from US formulations declined by 13.4 per cent to ₹2,745 crore while the same from Europe increased 1.4 per cent to ₹1,694 crore.
“The quarter’s performance was impacted by high input and freight costs, which weighed on profitability. However, our business was resilient in delivering steady revenues, led by API business benefiting from improved demand for our key products,’‘ K Nithyananda Reddy, Vice-Chairman and Managing Director, Aurobindo Pharma, said in a release on Wednesday.
“We made progress in optimising our working capital during the quarter, which has strengthened our balance sheet further,’‘ Reddy said, adding that the company would remain “committed to resolving regulatory issues affecting some facilities” and is “continuing to make steady progress in our complex generic product development plans”.
Research & Development expenditure stood at 6.6 per cent of revenue at ₹393 crore. During the quarter-end review, Aurobindo received final approval for four Abbreviated New Drug Applications (ANDAs), including one injectable product from the US Food and Drug Regulator.
The board of directors of the company approved a third interim dividend at 150% — i.e. ₹1.50 per equity share of ₹1 each — on the equity share capital of the company for FY22. The company has fixed February 21, 2022, as the record date for the purpose of payment of third interim dividend and the same will be paid on or before March 4, 2022.