Aurobindo Pharma’s consolidated net profit increased 9.7 per cent at Rs 570 crore in the first quarter ended June 30, 2023, compared to Rs 520 crore in the corresponding quarter of the previous financial year.
The total revenue of the Hyderabad-based company grew by 9.9 per cent at Rs 6,850 crore, as against Rs 6,236 crore in the same period last year.
“We are pleased to start the new financial year on a good note with strong top-line growth and margin expansion aided by improved performance across our key markets,” K. Nithyananda Reddy, Vice-Chairman and Managing Director, said in a release in Saturday.
“With our product pipeline continuing to advance, and execution of growth drivers proceeding as planned, we are confident that our fundamental strengths position us to create an upward trajectory,” he added.
The board has reinitiated the restructuring of the business of Eugia Pharma Specialities Ltd, a wholly-owned subsidiary company focused on sterile injectables, oncology and hormonal products.
It constituted a Committee of Independent Directors to carry on comprehensive evaluation of various alternatives / options, and recommend the same to the board for further discussion and decision.