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Aurobindo Pharma Jul-Sep quarter net up 58% to Rs 372 cr

PTI November 07, 2014 14:25 IST

New Delhi: Aurobindo Pharma today reported 58.3 per cent jump in consolidated net profit at Rs 372.2 crore for the quarter ended September on the back of robust growth in the US market.

The company had reported a net profit of Rs 235 crore in the year-ago period, it said in a statement.

The total operating income grew 50.5 per cent to Rs 2,881.2 crore during the quarter under review as against Rs 1,913.9 crore during the same quarter a year ago.

"The quarterly performance has been satisfactory mainly on account of overall growth led by US generics. Our business deliveries in Europe as well as other markets have been in line with our expectation," said the company's Managing Director N Govindarajan.

The company is confident of sustaining this performance as it continues to focus on complex molecules and differentiated technology platforms for advanced markets, he added.

Revenues from the US have shown 60.7 per cent growth during the quarter to Rs 1,174.3 crore as against Rs 730.8 crore during July-September quarter of FY14.

Europe business in the second quarter increased by 349.3 per cent while Rest of the World business showed 67.2 per cent growth as compared to the year-ago period.

Aurobindo shares were trading 3.50 per cent up at Rs 1,037 apiece on the BSE while the benchmark Sensex was down by 89.92 points at 1300 hours.