Aurobindo Pharma Q3 PAT tumbles 80% YoY to Rs 604 cr

10 Feb 2022 , 11:26 AM

Consolidated profit before tax (PBT) dropped 80.2% to Rs 793.78 crore in Q3 FY22 from Rs 4,005.40 crore in Q3 FY21. EBITDA (before forex and other income) skid 20.6% to Rs 1,016.30 crore in Q3 FY22 as compared to Rs 1,280.70 crore in Q3 FY21. EBITDA margin stood at 16.9% in Q3 December 2021 from 21.1% in Q3 December 2020.

Research & Development (R&D) spend stood at Rs 393 crore, which was 6.6% of revenues. The pharmaceutical company received final approval for 4 ANDAs including 1 injectable product from the US-based drug regulator, USFDA.

On a consolidated basis, total formulations fell 12.1% to Rs 4,992.20 crore in Q3 December 2021 as against Rs 5,682.40 crore in Q3 December 2020. Formulation revenue for continuing operations for the quarter, accounted for 83.1% of total revenues.

Total Active Pharmaceutical Ingredients (API) grew 48% to Rs 1,010 crore in Q3 FY22 over Rs 682.50 crore in Q3 FY21. In Q3 FY22, API business contributed 16.8% to the consolidated revenues. The company filed 2 DMFs with USFDA during the quarter. Gross sales slipped 5.7% to Rs 6,002.20 crore in Q3 FY22 as against Rs 6,364.90 crore in Q3 FY21.

Commenting on the Q3 performance, K. Nithyananda Reddy, the vice-chairman and managing director (MD) of the company, said, The quarters performance was impacted by high input and freight costs, that weighed on profitability. However, our business was resilient in delivering steady revenues, led by API business benefitting from improved demand for our key products. We made progress in optimizing our working capital during the quarter that has strengthened our balance sheet further. We remain committed to resolve the regulatory issues affecting some of our facilities and are continuing to make steady progress in our complex generic product development plans. As a company, we are focused on executing on our key growth drivers to drive sustained improvement in profitability and enhance stakeholder value.

Shares of Aurobindo Pharma rallied 3.86% to Rs 680.55 on BSE. Hyderabad-based Aurobindo Pharma develops, manufactures and distributes generic pharmaceuticals, branded specialty pharmaceuticals and active pharmaceutical ingredients.

Powered by Capital Market – Live News