Aurobindo Pharma Limited (Aurobindo) announced its consolidated financial results for the quarter ended June 30, 2024. 

Aurobindo reported an increase of 61.3 per cent in net profit at Rs. 918 crore, compared to Rs. 569 crore in the corresponding period last year. The pharma major's revenue from operations during the first quarter of current fiscal stood at Rs. 7,567 crore, registering a rise of 10.5 per cent, compared to Rs. 6,850 crore in the year-ago period.

Commenting on the Company’s performance, K. Nithyananda Reddy, Vice-Chairman and Managing Director of the Company said: “We are pleased with our continued strong performance this quarter, with a significant top-line growth across all our business segments. Our profitability was sustained by improved gross margins and operational efficiencies, while ramping-up our recently commercialized plants. We are confident in our ability to achieve our growth targets for FY25.”

During the quarter US revenue increased by 13.3% YoY to Rs, 3,555 crore and accounted for 47.0% of consolidated revenue. In USD terms, revenue increased by 11.6% YoY to USD 426 million. Filed 8 ANDAs with USFDA during the quarter. Received final approval for 10 ANDAs including 1 specialty product during the quarter. As on 30 th June 2024, on a cumulative basis, the company has filed 838 ANDAs with USFDA and received 668 final approvals and 26 tentative approvals. The company launched 10 products including 1 injectables during the quarter.

Europe revenue increased by 7.9% YoY to Rs. 1,982 crore and accounted for 26.2% of consolidated revenue. In Euro terms, revenue stood at EUR 221 million.