Home Market Aurobindo Pharma Q1 profit slips 12% to Rs 455 crore

Aurobindo Pharma Q1 profit slips 12% to Rs 455 crore

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New Delhi: Drug firm Aurobindo Pharma today reported a 12.10 per cent decline in its consolidated net profit to Rs 455.59 crore for the first quarter ended June 30, mainly on account of rise in expenses.

The company had posted a net profit of Rs 518.33 crore in the corresponding period previous fiscal, Aurobindo Pharma said in a BSE filing.

The company's revenue from operations stood at Rs 4,250.27 crore for the quarter under consideration. It was Rs 3,678.75 crore for the year-ago period.

Total expenses of the company for the first quarter were Rs 3,723.28 crore, compared to Rs 2,992.86 crore 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.

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