BackAurobindo Pharma Q4 results: Consolidated PAT dips 12% to ₹506 crore, revenue up over 11%
Aurobindo Pharma posted a mixed earnings with PAT declining over 12% YoY, however, revenue registered a double-digit growth. In a meeting held on May 27th, Aurobindo's board approved sale of entire shares in wholly-owned subsidiary, Auro Vaccines.
PremiumHyderabad-headquartered drugmaker, Aurobindo Pharma earned a consolidated net profit of ₹505.9 crore in Q4 of FY23, declining by 12.2% from a profit of ₹576.1 crore a year ago same quarter. Aurobindo remains committed to its growth strategies, new launches, and focus on operational efficiencies.
Sequentially, Aurobindo's PAT climbed by 3% from the profit of ₹491 crore in December 2023 quarter.
EBITDA before R&D stood at ₹1,412.9 crore in Q4FY23, rising by 0.5% YoY and 3.2% QoQ respectively. EBITDA margins came in at 15.5% in Q4FY23, contracting as against 16.8% in Q4FY22 but were up from a margin of 14.9% in Q3FY23.
Consolidated revenue from operations stood at ₹6,473 crore in the quarter under review, registering a growth of 11.4% from ₹5,809.4 crore in Q4 of the previous fiscal. The growth was marginally 1% as against revenue of ₹6,407.1 crore in Q3 of FY23.
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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, continuing new launches, and focusing on operational efficiencies."
Here are the key highlights of the quarter:
- US formulations revenue increased by 11.6% YoY to ₹3,045 crore
- Europe formulation revenue stood at ₹1,660 crore, with an increase of 7.7% YoY
-Growth Markets revenue grew by 51.2% YoY to ₹592 crore
-ARV revenue stood at ₹159 crore
- API revenue grew by 11.4% YoY to ₹1,017 crore
- Research & Development (R&D) spend at ₹410.7 crore, 6.3% of revenues
- Received final approval for 26 ANDAs including 4 injectable products from the USFDA
- Basic & Diluted EPS is ₹8.64 per share
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In a meeting held on Saturday, Aurobindo's board approved the sale and transfer of all equity shares held by the company in Auro Vaccines to Curateq Biologics. The completion of the sale is estimated in the first quarter of FY 2023-24.
Both Auro Vaccines and Curateq are a wholly-owned subsidiaries of Aurobindo Pharma.
On Friday, Aurobindo's share price closed at ₹614.55 apiece up by 1.6% on BSE.
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