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27 Years
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Pharmaceuticals company Aurobindo Pharma announced Q3FY24 results:
- Revenue from Operations increased by 14.7% YoY to Rs 7,352 crore with growth seen across multiple businesses.
- US formulations (excluding Puerto Rico) revenue increased by 28.9% YoY to Rs 3,756 crore (USD 451 million).
- Europe formulation revenue increased by 1.6% YoY to Rs 1,728 crore (EUR 193 million).
- Growth Markets revenue increased by 25.6% YoY to Rs 627 crore (USD 75 million).
- ARV revenue decreased by 28.6% YoY to Rs 179 crore (USD 22 million).
- API revenue grew by 7.1% YoY to Rs 1,022 crore (USD 123 million).
- EBITDA before Forex and Other income stood at Rs 1,601 crore; EBITDA margin of 21.8%.
- Research & Development (R&D) spend stood at Rs 398 crore, 5.4% of revenues (vs. Q2 FY24: 4.2%).
- Received final approval for 16 ANDAs including 7 specialty & injectable products from the USFDA.
- Net Profit after Share of Profit/Loss of JV and minority interest at Rs 936 crore, vs. Rs 491 crore in Q3FY23.
- Basic & Diluted EPS grew by 91.4% YoY to Rs 16.04 per share.
- Board has approved interim dividend @ 150% i.e. Rs 1.5 per equity share of Rs 1/- for FY24.
Commenting on the Company’s performance, K. Nithyananda Reddy, Vice-Chairman and Managing Director of the Company said: “We are very pleased with the considerable progress we have made in our operations, and the cost efficiencies we have achieved, this quarter’s highest ever sales and EBITDA reflect the same. With our continued focus on developing a strong pipeline and driving the commercialization of our key projects, we are confident of our growth trajectory in the months ahead.”
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