Aurobindo Pharma Q2 net profit up by 5 pc to Rs 640 crore

Managing director of Aurobindo Pharma N Govindarajan said We had another quarter of healthy performance where we continued to grow in the US and Europe, which are our focused geographies. Our R&D (research and development) initiatives have been progressing well across the products basket and we have started clinical trials for our first biosimilar product in Q3 FY 20."

Hyderabad: Aurobindo Pharma Limited on Tuesday said its consolidated net profit (after JV share, minority interest) for the quarter ended September 30 was up by 4.6 per cent to Rs 639.5 crore against Rs 611.4 crore in the Q2 FY 19.

Revenue from operation grew by nearly 18 per cent to Rs 5600.5 crore. It was Rs 4,751.4 crore during the same period last fiscal, a company press release here said.

Managing director of the firm N Govindarajan said We had another quarter of healthy performance where we continued to grow in the US and Europe, which are our focused geographies. Our R&D (research and development) initiatives have been progressing well across the products basket and we have started clinical trials for our first biosimilar product in Q3 FY 20."

Read Also: Aurobindo Pharma USA recalls heartburn drug Ranitidine over cancer causing impurities

Formulation revenues for the quarter posted a growth of 21.8 per cent YoY to Rs 4,793.8 crore and accounted for 85.6 per cent of total revenues, while EU formulations revenue in Q2 FY20 witnessed a growth of 21.2 per cent YoY to Rs 1,401.3 crore, the release said.

The company filed 20 abbreviated new drug applications (ANDA) with USFDA including 2 injectables in Q2FY20.

Read Also: Aurobindo Pharma gets 8 USFDA observations for 2 facilities in Hyderabad