Aurobindo Pharma Q4 net up 45% at ₹850 cr

Our Bureau | Updated on June 03, 2020

Aurobindo Pharma Ltd’s consolidated net profit increased 45.2 per cent at ₹850 crore in the fourth quarter ended March 31 against ₹585 crore in the same quarter last year.

The total revenue of the Hyderabad-based company grew 16.4 per cent ₹6,158 crore (₹5,292 crore).

A 20.5 per cent growth in the US formulations sale and 26 per cent increase in business in Europe, among other factors, helped boost numbers.

“We have closed FY20 with a healthy performance in Q4. The growth was seen across all our geographies. Diversified product basket has helped us to maintain the growth momentum in our core geographies like USA and Europe,’’ N Govindarajan, Managing Director of the company, said in a release.

The company would remain focused on strengthening its existing businesses, developing a differentiated and specialty product basket and regulatory compliance, he added.

For the year ended March 31, revenue increased 18.1 per cent to ₹23,098 crore (₹19,563 crore) while net profit rose 18 per cent to ₹2,831 crore (₹2,364 crore).

Transfer of biz

The Board of Directors of the Company has approved the transfer of business of biosimilars and its related research and development and manufacturing facilities located at Indrakaran village, Kandi mandal, Sanga Reddy District, Telangana on a going concern basis, to its wholly owned subsidiary, CuraTeQ Biologics Private Ltd (CuraTeQ).

This will be done through execution of a business transfer agreement, the company said in a BSE notification.

Published on June 03, 2020

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