Aurobindo Pharma has reported a net profit of ₹909 crore in the fourth quarter ending March 31, 2024, as against ₹506 crore in the same quarter last year, showing a growth of 79.6 per cent.

The company registered a revenue of ₹7,580 crore in the quarter as against ₹6,473 in the comparable quarter last year, showing a growth of 17.1 per cent.

For the financial year 2023-24, the company reported a net profit of ₹3,173 crore (₹1,927 crore) on a revenue of ₹29,002 crore (₹24,855 crore).

The US formulations (excluding Puerto Rico) revenue in the quarter went up by 21.6 per cent year on year to ₹3,588 crore, while Europe formulations revenue contributed ₹1,832 crore.

The company spent ₹392 crore or 5.2 per cent of its fourth quarter revenue on research and development. 

The company said it received final approval for 17 ANDAs (Abbreviated new drug application), including four specialty and injectable products from the USFDA (US Food and Drug Administration).

“We are delighted to report a strong performance for the quarter and the year, supported by the

expansion into the new markets, product launches and stable pricing. Our improved capacity utilisation has led to higher operating efficiencies,” K Nithyananda Reddy, Vice-Chairman and Managing Director of Aurobindo Pharma, said.

“We are confident of continuing our growth in the upcoming year, while stabilizing the operations of the recently commercialised facilities,” he said.