Aurobindo Pharma reported 7.97% growth in gross revenues for the Dec-20 quarter on consolidated basis at Rs6,364.91cr. The US formulations business, which accounts for about half of the revenues reported 6.8% growth on a yoy basis. Europe formulations grew at 13.2% while other growth markets recorded 14.6% growth on a yoy basis. Revenues from active pharma ingredients or APIs were sharply lower by 13% at Rs683cr in Dec-20 quarter.
For the Dec-20 quarter, the consolidated operating profits were up 14% at Rs1092.06cr. During the quarter, there was a sharp spike in employee benefit costs and miscellaneous expenses, although the positive takeaway is that R&D expenses touched 6.1% of sales. OPM expanded from 16.25% in Dec-19 quarter to 17.16% in Dec-20 quarter.
The consolidated Profit after tax (PAT) for the Dec-20 quarter was up 4-fold at Rs2,946.46cr. The boost came from an exceptional gain of Rs2,814cr from the disposal of Natrol LLC, its wholly owned step-down subsidiary in the US. PAT margins zoomed from 11.97% in the Dec-19 quarter to 46.29% in the Dec-20 quarter; although this is more of a one-off gain.
Financial highlights for Dec-20 compared yoy and sequentially
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Aurobindo Pharma |
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Rs in Crore |
Dec-20 |
Dec-19 |
YOY |
Sep-20 |
QOQ |
|
Total Income (Rs cr) |
₹ 6,364.91 |
₹ 5,895.00 |
7.97% |
₹ 6,483.44 |
-1.83% |
|
Operating Profit (Rs cr) |
₹ 1,092.06 |
₹ 957.91 |
14.00% |
₹ 1,175.47 |
-7.10% |
|
Net Profit (Rs cr) |
₹ 2,946.46 |
₹ 705.45 |
317.67% |
₹ 806.23 |
265.46% |
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Diluted EPS (Rs) |
₹ 50.29 |
₹ 12.04 |
|
₹ 13.75 |
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OPM |
17.16% |
16.25% |
|
18.13% |
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Net Margins |
46.29% |
11.97% |
|
12.44% |
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