Aurobindo Pharma Ltd’s net profit increased 10.8 per cent at ₹585 crore for  fourth quarter ended March 31, 2019 as against ₹528 crore in the corresponding quarter of previous year.

The total revenue grew by 30.7 per cent at ₹5,292 crore (₹4,049 crore of year earlier period) mainly driven by growth in the US revenue, among others.

For the full fiscal, Aurobindo posted 2.4 per cent decrease in net profit at ₹2,365 crore (₹2,423 crore) even as total revenue went up 18.6 per cent at ₹19,563 crore (₹16,500 crore). The earnings per share (basic and diluted) was at 40.36.

N Govindarajan, Managing Director of the company said: “We ended the year with a strong quarter as formulations and API businesses witnessed a growth of 35 per cent and 15 per cent year-on-year respectively.”

Aurobindo acquired Apotex’s businesses in five European countries and branded oncology injectables from Spectrum Pharmaceuticals, USA during the quarter.

“Our near-term priorities are to integrate the acquired businesses, improve the efficiencies and achieve synergies. Steady progress on our differentiated pipeline during the year coupled with the recent acquisitions will drive the future growth,” Govindarajan said.

The research and development expenses stood at ₹871 crore representing 4.5 per cent of the revenues. The drug-maker received final approval for 48 Abbreviated New Drug Applications besides tentative approvals for 6 ANDAs from the USFDA during the period under review.

Scheme of Amalgamation

The board of directors had also approved the Scheme of Amalgamation of its wholly owned subsidiaries viz., APL Healthcare Limited, APL Research Centre Limited, Aurozymes Limited, Curepro Parenterals Limited, Hyacinths Pharma Private Limited and Silicon Life Sciences Private Limited with Aurobindo Pharma.

Aurobindo Pharma’s scrip gained 2.07 per cent on the BSE on Wednesday and is trading at ₹690.10 shortly after opening up of trade.

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