The net profit of Aurobindo Q3 falls 1%
Hyderabad: City-based Pharma Major, Ltd, said Thursday that it recorded a marginal 1% decrease in consolidated net earnings for the third quarter ended December 31, 2019, at Rs 705 crore compared to Rs 712 million rupees in the corresponding previous fiscal quarter.
This was despite an almost 12% increase in consolidated revenue from operations for Q3FY20 to Rs 5895 crore from Rs 5270 rupees in Q3FY19.
The company said that while international business accounted for 92% of revenues during the quarter, the domestic market contributed only 8%. He also said that while its formulations business grew 17.4% during the quarter to Rs 5105 rupees the quarter and represented 86.6% of total revenues, the API business decreased by more than 14% with sales of Rs 790 million rupees compared to Rs 922 million rupees in the third quarter of fiscal year 19. While sales of formulations in the US. UU. They grew 22% to Rs 2969 million rupees and accounted for more than 50% of consolidated revenues, the EU formulations business recorded a growth of 14% to Rs 1476 million rupees, representing 25% of revenues consolidated.
On the other hand, sales of ARV formulations increased 11% during Q3FY20 to Rs 313 crore from Rs 281 crore in Q3FY19 and contributed 5.3% of revenues, while growth market formulations increased 1.6% to Rs 346 million rupees of Rs 340.5 million rupees in Q3FY19 and represented 5.9% of revenues.
Commenting on performance, Aurobindo Pharma MD N Govindarajan said: “We continue to perform well in all geographies. We remain focused on strengthening our existing businesses and developing a portfolio of differentiated and specialized products. We are committed to solving all regulatory problems and continuously improving quality.