Aurobindo Pharma Q1 net profit up 23% to Rs 781 cr

Drug firm Aurobindo Pharma on Wednesday reported a 22.81 percent rise in its consolidated net profit to Rs 780.68 crore for the quarter ended on June 30, 2020, mainly on account of robust sales in the US market.

The company had posted a net profit of Rs 635.68 crore for the corresponding period of the previous fiscal, Aurobindo Pharma said in a filing to BSE. Consolidated revenue from operations of the company stood at Rs 5,924.78 crore for the quarter under consideration. It was Rs 5,444.60 crore for the same period a year ago, it added.

"Amid challenging times, we have started the financial year by reporting a healthy performance. We have ensured the business continuity without compromising the safety and wellbeing of our employees," Aurobindo Pharma Managing Director N Govindarajan said.

The company is committed to adhering to quality standards by investing continuously and developing a differentiated product pipeline for sustainable growth, he added. US formulation revenue for the quarter ended June this fiscal was at Rs 3,107.1 crore as against Rs 2,688.4 crore in the first quarter of financial year 2020, registering a growth of 15.6 percent year-on-year and accounting for 52.4 percent of the consolidated revenue , the filing said.

Interim dividend of Rs 1.25 per equity share of Re 1 has been approved by the board for financial year 2020-21, it added.  Shares of Aurobindo Pharma closed at Rs 934 per scrip on the BSE, down 1.14 percent from the previous close.