New Delhi: Drug firm Aurobindo Pharma on Wednesday reported a 39.52% rise in consolidated net profit to ₹635.68 crore for the quarter ended June 2019, mainly on account of robust sales in the US and Europe.
The company had posted a net profit of ₹455.59 crore for the corresponding period of the previous fiscal, Aurobindo Pharma said in a BSE filing.
Consolidated total revenue from operations rose to ₹5,444.60 crore for the quarter under consideration as against ₹4,250.27 crore for the same period a year ago, it added.
"We have started the year with a healthy performance. Enhancing our quality management practices and adhering to the regulatory requirements continues to be our highest priority," Aurobindo Pharma MD N Govindarajan said.
During the quarter, the company commissioned Eugia's manufacturing facility and launched five oncology and hormonal products in the US market, he added.
"Our differentiated product basket is progressing well and we are in the process of starting clinical trials for our first biosimilar in Q2FY20," Govindarajan said.
US formulations revenue stood at ₹2,688.4 crore for the first quarter of the current fiscal as against ₹1,889.6 crore in Q1FY19, registering a robust growth of 42.3%, the company said.
Europe formulations revenue stood at ₹1,391.6 crore, up 16.1% year-on-year.
Shares of Aurobindo Pharma Ltd closed at ₹555 per scrip on BSE, down 1.24% from its previous close.
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