Hyderabad: Higher sales on the back of new product launches in the US market helped Hyderabad-based drug maker Aurobindo Pharma Ltd post a profit after tax of Rs.91.8 crore in the quarter ended 31 December on a consolidated basis, against a loss of Rs.28.5 crore in the year-ago period.
Revenue from operations rose 22% to Rs.1,570 crore from Rs.1,284.51 crore.
“We continue to see traction on our performance both in sales and earnings on a year-on-year basis on account of improved business mix in formulations from new product approvals and launches in the US market,” managing director N. Govindarajan said in a statement.
During the quarter, the US Food and Drug Administration cleared the liquid injectable facility at unit-4 and semi synthetic penicillin oral and injectable facility at unit-12 and started approving products from these facilities, Aurobindo said.
“These will pave the way for consolidating the injectable formulations business,” the company said.
Aurobindo got approvals to launch 11 new generic products in the US market in the third quarter.
The results were announced after the close of market hours on Thursday.
Shares of Aurobindo dropped 3.07% to close at Rs.186.55 on BSE, while the benchmark Sensex declined 0.30% to 19,580.32 points.