"The quarterly performance has been satisfactory mainly on account of overall growth led by US Generics. Our business deliveries in Europe as well as other markets have been in line with our expectation," said N Govindarajan, managing director of the company.
Aurobindo Pharma has reported a whopping 58.3 percent growth in consolidated net profit at Rs 372 crore for July-September quarter led by US generics. Profit in the year-ago period was Rs 235 crore.
"The quarterly performance has been satisfactory mainly on account of overall growth led by US Generics. Our business deliveries in Europe as well as other markets have been in line with our expectation," said N Govindarajan, managing director of the company.
The company is confident of sustaining this performance as it continues to focus on complex molecules and differentiated technology platforms for advanced markets, he added.
Consolidated revenue grew by 50.5 percent to Rs 2,881 crore in the quarter ended September 2014 compared to Rs 1,914 crore in the same quarter last year driven largely by US business that reported a 60.7 percent growth during the quarter.
Europe business in July-September quarter increased by 349.3 percent while rest of the world business showed a 67.2 percent growth compared to year-ago period.
Operating profit (earnings before interest, tax, depreciation and amortisation) rose by 45.3 percent year-on-year to Rs 637 crore in the second quarter of current financial year 2014-15 but margin fell 100 basis points to 22 percent from 23 percent during the same period due to increase in staff cost (up 72 percent) and other expenses (up 78 percent).
Aurobindo said formulation sales grew by 82.1 percent on yearly basis to Rs 2,236.5 crore while API sales marginally declined by 4.6 percent to Rs 685.0 crore percent (against Rs 717.9 crore in Q2FY14).
At 11:50 hours IST, the stock was quoting at Rs 1,038.55, up Rs 36.65, or 3.66 percent after hitting a 52-week high of Rs 1,043 on the BSE.
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Aurobindo Pharma Q2 net up 58% to Rs 372 cr on US generics
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