Companies

Aurobindo Pharma’s Q2 net up 4.6% at ₹640 cr

Our Bureau Hyderabad | Updated on November 13, 2019

The scrip gains 2.5 per cent after opening of trade

Aurobindo Pharma Ltd’s net profit increased 4.6 per cent at ₹640 crore in the second quarter ended September 30, 2019 compared to ₹611 crore in the corresponding quarter of the previous year.

The total revenue of the Hyderabad based company increased 17.9 per cent at ₹5,600 crore against ₹4,751 crore.

“We had a quarter of healthy performance where we continued to grow in US and Europe, which are our focused geographies. Our R&D initiatives have been progressing well across the products basket and we have started clinical trials for our first biosimilar product in Q3FY20,’’ N. Govindarajan, Managing Director, Aurobindo Pharma said in a release.

The company was in the process of resolving all pending regulatory issues, he added.

Revenue from US formulations increased 27.3 per cent at ₹2,835.5 crore (₹2,227 crore). Europe formulations revenue stood at ₹1,401 cr, which is an increase of 21.2 per cent against last year. Growth Markets posted a growth of 3.8 per cent.

Research & Development (R&D) spend was at Rs 223 cr, amounting to 4 pc of revenues Basic and diluted EPS is Rs 10.92 per share.

Aurobindo’s board approved an Interim Dividend at 125 per cent for ₹1.25 per equity share of Re. 1/- each on the equity share capital of the company for the Financial Year 2019-20.

Aurobindo’s scrip gained 2.58 per cent after opening of trade on the Bombay Stock Exchange on Wednesday.

Published on November 13, 2019

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