Aurobindo Pharma Q4 PBT rises 32% to Rs1077.51 cr over higher revenue

Indian drug major Aurobindo Pharma Limited reported a 32 per cent jump in profit before tax (PBT) at Rs 1077.51 crore for the quarter ended March 31, 2020 as compared to Rs 816.34 in the corresponding quarter of the previous year on the back of increased revenue fuelled by formulations business growth across geographies.

 
Revenues from operations for the quarter under review registered 16.4 per cent growth at Rs 6158.43 crore as compared to Rs 5324.47 crore in the year ago period. US formulations sales, which contributed nearly 50 per cent of the revenues in this quarter, grew by 20.5 per cent to Rs 2,990 crore from Rs 2,481.1 crore in the corresponding quarter of the previous year.

 
Europe sales at Rs 1,652.5 crore registered a 26 per cent year-on-year growth, while growth markets with a smaller revenue base grew 30.3 per cent to Rs 376.6 crore. Antiretrovirals(ARV) business at Rs 381.8 crore also grew 30.9 per cent over the corresponding quarter of the previous year. The company's active ingredients(API) sales, however, decreased by 17.58 per cent to Rs 755.6 crore from Rs 916.8 crore in the year ago period.

 
"...We have closed FY20 with a healthy performance in Q4. The growth was seen across all our geographies. Diversified product basket has helped us maintain the growth momentum in our core geographies like the US and Europe. We remain focused on strengthening our existing businesses, developing a differentiated and specialty product basket and regulatory compliance," Aurobindo managing director N Govindarajan said.

 
For the full year ended March 31, 2020, the PBT of the company stood at Rs 3,743.02 crore, an increase of 21 per cent over Rs 3091.35  crore in the year ago period. Revenues from operations grew by 18 per cent to Rs 23,098.5 crore in the year 2019-20 as compared to Rs 19,563.6 crore in the previous year.

 
In terms of the geography-wise performance, in 2019-20 the company registered the highest growth of 27.2 per cent in US formulations sales to Rs 11,483.5 crore, which was 49.7 per cent of the total revenues during the year, followed by 19.4 per cent increase in European formulations sales at Rs 5,921.8 crore. ARV sales were 28.7 per cent up at Rs 1,251.5 crore, while the revenues from API segment stood slightly lower at Rs 3,083 crore as compared to Rs 3,403 crore in the previous year.


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