Aurobindo Pharma Q3 results: Net profit jumps 90% to Rs 936.2 crore

Indian pharmaceutical major Aurobindo Pharma on February 10 reported a 90.6 percent year-on-year rise in consolidated net profit to Rs 936.2 crore for the October-December quarter of the current financial year.

The company had reported a profit of Rs 491.2 crore in the same period last year.

The revenue from operations in Q3 FY24 came in at Rs 7,351.7 crore, up 14.7 percent from the year-ago quarter numbers of Rs 6,407 crore.

The company's earnings before interest, taxes, depreciation and amortization (EBITDA) came in at Rs 1,601. crore, up from Rs 954.4 crore in the year-ago period. The EBITDA margin was at 21.8 percent against 14.9 percent in the year-ago period.

The US Formulations revenues were up 28.9 percent YoY $45.1 crore  and Europe Formulation revenue were up 1.6 percent YoY at Euro 193 million.

Specialty & Injectables revenue in the US was  approximately $ 11.2 crore in
Q3FY24 (25 percent of the total US revenue). Global Specialty & Injectables revenue on a proforma basis was about $ 15 crore. The company filed 7 ANDAs with USFDA in Q3FY24. The company has launched 21 products including 4 Specialty & Injectable products during the quarter and received approval for 16 ANDAs including 7 Specialty & Injectable products during the quarter.

ARV (Anti Retro Viral) business revenue posted revenues of $ 22 million, accounting for 2.4 percent of revenue. API business posted revenues of Rs
1,022 crore, accounting for 13.9 percent of revenue.

The company had a net Capex of $ 103 million, including US$ 37 million towards its  bulk drugs PLI project. Total investment for PLI project is ~US$ 230 million & biosimilar project is ~$ 305 million till December 31st, 2023. Total R&D spend for the quarter is Rs. 398 Crore.