Aurobindo Pharma Q1 net profit slips 12% to Rs 4.5 bn over rising expenses

Drug firm Aurobindo Pharma on Thursday reported a 12.10 per cent decline in its consolidated net profit to Rs 4.55 billion for the first quarter ended June 30, mainly on account of rise in expenses.

The company had posted a net profit of Rs 5.18 billion in the corresponding period previous fiscal, Aurobindo Pharma said in a BSE filing.

The company's revenue from operations stood at Rs 42.5 billion for the quarter under consideration. It was Rs 36.78 billion for the year-ago period.

Total expenses of the company for the first quarter were Rs 37.23 billion, compared to Rs 29.92 billion in the same period last fiscal.

"We have achieved 16 per cent growth in revenues led by a healthy growth across key geographies and segments," Aurobindo Pharma MD N Govindarajan said.

However, profitability was impacted largely due to certain one-off product related provisions, he added.

"With consistent focus on execution and enhancement of capabilities, we have started filing dermatology ANDAs (abbreviated new drug applications) and is on track in other speciality segments," Govindarajan said.

Shares of Aurobindo Pharma today closed at Rs 600.90 per scrip on BSE, down 1.72 per cent from previous close.


Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel