The company posted net profit of Rs 409 crore in the corresponding quarter of the previous year. On a quarter-on-quarter (QoQ) basis the net profit rose 31.7%.
Revenue from operations increased 25.8% YoY to Rs 7219 crore in Q2FY24. On a QoQ basis revenue rose 5.4%.
The earnings before interest, tax, depreciation and ammortisation (EBITDA) before forex and other income rose 68% to Rs 1403 crore. The EBITDA margin for the quarter 480 basis points YoY to 19.4%.
US formulations revenue that constitutes 47% increased 35.7% YoY to Rs 3385 crore. Europe formulation revenue which contributes one-fourth of revenues stood at Rs 1,769 crore, with a YoY increase of 16.7%.
Growth Markets revenue grew by 24.7% YoY to Rs 564 crore, while the antiretroviral revenue improved by 52 YoY to Rs 250 crore.
The active pharmaceutical ingredient (API) revenue grew 20.3 % YoY to Rs 1,166 crore.The research & development (R&D) spending stood at Rs. 300 crore, constituting about 4.2% of revenues.
“This is yet another quarter with highest-ever sales, driven by robust performance across the markets, and
continued margin expansion, aided by operational leverage and efficiencies,” said K. Nithyananda Reddy, vice-chairman and managing director of Aurobindo.
“With our strong product pipeline, focus on compliance, and key projects in advanced stages, we will continue our growth journey while generating value for our stakeholders,” Reddy said.
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“You may trod me in the very dirt, but still, like dust, I’ll rise” – Still I Rise by Maya Angelou (For the full poem, click here)_______________________________________________________________________
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