Aurobindo Pharma Q1 PAT declines 32% YoY

12 Aug 2022 , 09:41 AM

Revenue from operations increased by 9.4% YoY to Rs 6,235.9 crore during the period under review. In Q1 FY23, US formulations revenue increased by 10.8% YoY to Rs 2,971.1 crore while Europe formulation revenue stood at Rs 1,548.1 crore, with decrease of 2.2% YoY mainly due to Euro currency depreciation. Growth Markets grew by 30.8% YoY to Rs 430.6 crore and anti-retrovirals (ARV) revenue improved by 28.1% YoY to Rs 379.6 crore in the first quarter. Active Pharmaceutical Ingredients (API) revenue increased by 11.6% to Rs 906.5 crore in Q1 FY23 over Q1 FY22. Research & Development (R&D) spend stood at Rs 310 Cr, amounting to 5% of revenues in Q1 FY23 as against 6.3% in Q1 FY22. EBITDA (before forex and other income) declined by 20.2% to Rs 964.7 crore in the first quarter from Rs 1,209.4 crore recorded in the same period last year. EBITDA margin was 15.5% in Q1 FY23 as against 21.2% in Q1 FY22. Profit before tax in Q1 FY23 stood at Rs 683 crore, down by 33.5% from Rs 1,026.7 crore in Q1 FY22. Tax outgo during the period under review was Rs 158.6 crore (down 36% YoY). The company received final approval for 10 ANDAs including 4 injectable products from the US FDA. K. Nithyananda Reddy, vice-chairman and managing director of the company, said: ?We delivered a good performance amidst challenging environment, while reinforcing our growth pillars. Investments in product portfolio continued at a healthy pace as reflected in the filings and launches in the quarter. Our focus on the development of specialty products pipeline will establish new avenues to grow the business in future. This along with our aim to drive sustained improvement in profitability through newer avenues will enhance improved profitability over medium to long term.? Aurobindo Pharma develops, manufactures and distributes generic pharmaceuticals, branded specialty pharmaceuticals and active pharmaceutical ingredients. The scrip rose 0.64% to currently trade at Rs 579.15 on the BSE. Powered by Capital Market – Live News