By: IPP Bureau
Last updated : November 14, 2022 10:59 am
Formulation revenue decreased by 7.6% YoY to Rs. 4,770 crore whereas in Q2 FY23, API business posted a growth of 24.2% YoY with revenue of Rs. 969.4 crore
Aurobindo Pharma Ltd., develops, manufactures and distributes generic pharmaceuticals, branded specialty pharmaceuticals and active pharmaceutical ingredients, revenue from operations stood at Rs. 5,739.4 crore, decreased by 3.4% YoY.
EBITDA before Forex and Other income stood at Rs. 836.9 crore whereas EBITDA margin for the quarter was 14.6%. Research & Development (R&D) spent at Rs. 276 crore. Net Profit stood at Rs. 409.4 crore as against Rs. 520.5 crore in the previous quarter.
For the quarter, Formulation revenue decreased by 7.6% YoY to Rs. 4,770 crore whereas in Q2 FY23, API business posted a growth of 24.2% YoY with revenue of Rs. 969.4 crore and contributed 16.9% to the consolidated revenues.
Commenting on the Company’s performance, K. Nithyananda Reddy, Vice-Chairman and Managing Director, Aurobindo Pharma Ltd. said, “Our Q2 FY23 performance was subdued, mainly due to the macro-environment factors and higher competitive intensity for some products in the US. However, we are confident that our robust pipeline of new products will provide impetus to the future growth trajectory. Our continued focus on Biosimilar, R&D, innovation and increasing manufacturing capacity will enhance our product offerings, in various markets. We are confident that the right measures and growth-led strategies will help improve our profitability and margins over the medium to long term.”
The company’s manufacturing facilities are approved by several leading regulatory agencies like US FDA, UK MHRA, EU, Japan PMDA, WHO, Health Canada, South Africa MCC, Brazil ANVISA. The company’s robust product portfolio is spread over 7 major therapeutic/product areas encompassing CNS, Anti-Retroviral, CVS, Antibiotics, Gastroenterological, Anti-Diabetics and Anti- Allergic, supported by a strong R&D setup.