Hyderabad-based Aurobindo Pharma’s Q2 net profit up 4 per cent to Rs 848 crore
The drug major continues to see healthy demand across key markets, with US and Europe businesses performing in line with expectations, said its Vice-Chairman and Managing Director K Nithyananda Reddy
New Delhi: Aurobindo Pharma on Wednesday posted a 4 per cent increase in its consolidated net profit to Rs 848 crore for the second quarter ended September 30, aided by robust sales in the US and Europe markets.
The Hyderabad-based drug major had reported a net profit of Rs 817 crore in the July-September period of the last fiscal.
Its revenue from operations rose to Rs 8,286 crore for the September quarter from Rs 7,796 crore in the year-ago period, Aurobindo Pharma said in a statement.
“Q2 has been another steady quarter for Aurobindo, demonstrating the resilience of our base business and the depth of our product portfolio. We continue to see healthy demand across key markets, with our US and Europe businesses performing in line with expectations,” its Vice-Chairman and Managing Director K Nithyananda Reddy stated.
The balance between growth and profitability remains central to the drugmaker’s execution, he added.
“With the momentum we’ve built and all strategic initiatives progressing as planned, we are confident of meeting our annual guidance and sustaining long-term value creation,” Reddy pointed out.
In the US market, the company reported a 3 per cent rise in sales to Rs 3,638 crore for the second quarter. In Europe, the company said, its sales grew 18 per cent year-on-year to Rs 2,480 crore in the September quarter.
In growth markets, including India, the company’s sales stood at Rs 882 crore in the second quarter, an increase of 8 per cent year-on-year.
