Aurobindo Pharma's consolidated net profit down 18.7% at Rs 491 Cr in Q3

Aurobindo Pharma Limited on Thursday said its consolidated net profit for the quarter ended December 31 was down by 18.7 per cent to Rs 491.2 crore against Rs 604.3 crore in Q3FY22.

A press release from the drug maker said revenue from operations during the quarter under discussion was up by 6.7 per cent to Rs 6,407.10 crore against Rs 6,002.2 in the same period last fiscal.

Commenting on the company's performance, K Nithyananda Reddy, Vice-Chairman and Managing Director of the company said "We witnessed an improved momentum backed by recovery across our business verticals and our endeavor is to continuously innovate and differentiate."

In line with the companys commitment to innovate, there is an increase in the investments in Biosimilars. The company aims to sustain the momentum with new launches, improved cost efficiencies and adherence to the highest standards of compliance, supported by strong execution, he further said.

During the quarter, formulation revenue increase by 9.2 per cent YoY to Rs 5,452.5 crore while in Q3 FY23, US revenue increased by 9.3 per cent YoY to Rs 3,001.2 crore and accounted for 46.8 per cent of consolidated revenues.

The drug maker has launched 11 products during the quarter including six injectable products in the US market.

Europe revenue in Q3 FY23 was flat YoY at Rs 1,701.2 crore.