By: IPP Bureau
Last updated : May 29, 2023 10:27 am
US formulations revenue increased by 11.6% YoY to Rs. 3,045 crore and Europe formulation revenue stood at Rs. 1,660 crore
Aurobindo Pharma announced its consolidated financial results for the quarter and year ended March 31, 2023. The company reported revenue from operations at Rs. 6,473 crore, up 11.4% YoY. US formulations revenue increased by 11.6% YoY to Rs. 3,045 crore and Europe formulation revenue stood at Rs. 1,660 crore, with an increase of 7.7% YoY. Meanwhile, growth markets revenue grew by 51.2% YoY to Rs. 592 crore. ARV revenue stood at Rs. 159 crore and API revenue grew by 11.4% YoY to Rs. 1,017 crore.
EBITDA before Forex and Other income stood at Rs. 1,002 crore; EBITDA margin for the quarter was 15.5%. Similar to the previous quarter, this quarter saw a substantial investment in R&D. EBITDA before R&D stood at Rs. 1,413 crore and EBITDA margin at 21.8%.
Net profit for the quarter ended March 31, 2023 stood at Rs. 506 crore as against Rs. 491 crore in the previous quarter.
Commenting on the Company’s performance, K. Nithyananda Reddy, Vice-Chairman and Managing Director of the Company said: “We saw decent performance in the current quarter, on the back of stable demand and pricing environment across our portfolio and geographies. We remain committed to executing our growth strategies. We remain committed to executing our growth strategies, continuing new launches, and focusing on operational efficiencies."