Aurobindo Pharma's Q2 Profit Lifted By Higher Sales In U.S., Europe : 09 Nov

Drugmaker Aurobindo Pharma Ltd.'s net profit surpassed analyst estimates in the July-September quarter aided by strong growth in the U.S., EU and other growth markets.

Net profit increased 29 percent to Rs 781 crore, compared to the corresponding period last year, the company said in an exchange filing today. The consensus estimate of analysts tracked by Bloomberg had pegged the bottom line at Rs 685 crore. Revenue rose 17.5 percent to Rs 4,436 crore year-on-year, also higher than estimates.

Growth in the U.S. market, where most pharmaceutical companies have seen intense pricing pressure, drove Aurobindo Pharma's second-quarter earnings, Managing Director N Govindarajan said in the filing.

Despite the challenging environment, our U.S. business posted a robust growth of 21 percent year-on-year driven by new product launches and increased volumes of existing products. N Govindarajan, Managing Director, Aurobindo Pharma

Operating income of the Telangana-based drugmaker was up 20 percent to Rs 1,117 crore year-on-year while the margin expanded 60 basis points to 22.8 percent in the same period.

Key Segments

• U.S. formulation sales stood at Rs 2,098.9 crore compared to Rs 1,735.1 crore in the same period last year.
• Europe formulation sales witnessed a robust growth of 36.9 percent on a yearly basis to Rs 1,113.5 crore.
• Anti-retroviral sales stood at Rs 207.5 crore from Rs 278.5 crore in the same quarter last year.
• Growth markets sales rose 37.7 percent to Rs 243.4 crore.
• API sales remained almost unchanged at Rs 771.8 crore from the same quarter last year.

About Money99

Parag Patil is a technical analyst and trading system designer with stock excel programmer. I hope the articles and live chart of nse future and mcx on this Website will be as helpful and profitable to you . I try to update and post new articles tips everyday. My motto is to encourage the traders, so that they should able to understand the technique views behind the moment of stocks. I have deeply analyzed with many technical indicator with parameter and added to my amibroker afl. And even taken backtest report which is never being implemented. Any of the analyst expect me. Seeing all this you may understand that my views is more technical than commercial. If you are profited by my views I fill happy.