Aurobindo Pharma reports 26% increase in Q2 net profit at Rs 805 crore

The company said its US formulation revenue stood at Rs 3,189.8 crore as against Rs 2,835.5 crore in same period last fiscal

Aurobindo Pharma Ltd on Wednesday reported a 26 per cent increase in consolidated net profit at Rs 805.65 crore in the second quarter ended September.

The company had posted a consolidated net profit of Rs 639.53 crore in the same quarter last fiscal, Aurobindo Pharma said in a regulatory filing.

Consolidated total revenue from operations during the period under review stood at Rs 6,483.44 crore as against Rs 5,600.47 crore in the corresponding quarter last fiscal, it added.

Commenting on the company's performance Aurobindo Pharma Managing Director N Govindarajan said: "We continue to perform well across all our key geographies and segments to report a consistent set of earnings."

He further said: "On our endeavour towards our differentiated products basket, we are happy to state that we have completed phase I clinical trials for our first biosimilar and started trials for three more products. We reiterate that we are committed to resolving all pending regulatory issues."

During the second quarter, the company said its US formulation revenue stood at Rs 3,189.8 crore as against Rs 2,835.5 crore in same period last fiscal, a growth of 12.5 per cent, while Europe formulation revenue was at Rs 1,514.8 crore, a growth of 8.1 per cent from the year-ago quarter.

The company said it received final approval for 10 ANDAs (abbreviated new drug applications) from USFDA.

Its board has also approved a second interim dividend of 125 per cent at Rs 1.25 per equity share of Re 1 for the financial year 2020-21.

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