Aurobindo Pharma Q3 Net Profit Soars 90% to ₹936.2 Crore

12 Feb 2024 , 10:46 AM

Major Indian pharmaceutical company Aurobindo Pharma said on February 10th that its consolidated net profit for the October–December quarter of the current fiscal year increased by 90.6% year over year to ₹936.2 Crore. 

For the same time last year, the company reported a profit of ₹491.2 Crore. 

Operating revenue in Q3 FY24 totaled ₹7,351.7 Crore, a 14.7% increase over Q2 figures of ₹6,407 Crore from the previous year. 

Profits before interest, taxes, depreciation, and amortization (EBITDA) for the company increased to ₹1,601. Crore from ₹954.4 Crore in the same period last year. Compared to the same period last year, the EBITDA margin was 14.9%; it was 21.8% now.

Revenues from formulations increased by 1.6% YoY to Euro 193 million in Europe and by 28.9% YoY to $45.1 Crore in the US.

In Q3FY24, Specialty & Injectables revenue in the US amounted to about $11.2 Crore, or 25% of total US revenue. Proforma revenue for Global Specialty & Injectables was around $15 Crore. In Q3FY24, the business submitted seven ANDAs to the USFDA. Throughout the quarter, the business released 21 products, four of which were specialty and injectable goods. Additionally, 16 ANDAs, seven of which were specialty and injectable products, were approved.

The ARV (Anti Retro Viral) company reported $22 million in revenue, or 2.4% of total revenue. API company reported ₹1,022 Crore, or 13.9% of total income.

The company’s net capital expenditures came to $103 million, of which US$ 37 million went into the PLI project for bulk pharmaceuticals. Up until December 31, 2023, approximately US$ 230 million will be invested in the PLI project and approximately US$ 305 million in the biosimilar project. The entire quarter’s R&D expenditure comes to ₹398 Crore.

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