Aurobindo Pharma Q2 net up 29 percent at Rs 780.97 crore

New Delhi: Drug firm Aurobindo Pharma reported a 28.96 percent rise in its consolidated net profit to Rs 780.97 crore for the September quarter of the current fiscal mainly on account of robust sales in the US and the European Union.

The company had posted a net profit of Rs 605.55 crore for the corresponding period of the previous fiscal, Aurobindo Pharma said in a BSE filing.

Consolidated total revenue from operations rose to Rs 4,435.89 crore for the quarter under consideration as against Rs 3,775.45 crore for the same period a year ago.

Aurobindo Pharma MD N Govindarajan said: "Strong growth in US, EU and growth markets have contributed to a healthy performance in our Q2 FY18."

Despite a challenging environment, "our US business posted a robust growth of 21 percent YoY driven by new product launches and increased volumes of existing products."

The steady focus on developing a differentiated and specialty product basket will help the company to sustain the growth momentum for the future, Govindarajan said.

The US formulation sales of the company rose to Rs 2,098.9 crore as against Rs 1,735.1 crore in the same period year ago, Aurobindo Pharma said.

The sale of formulations in the European market grew to Rs 1,113.5 crore from Rs 813.4 crore in the corresponding period of the previous fiscal.

In a separate filing, the company said, its board has approved an interim dividend of Rs 1.50 per equity shares of Re 1 each on its equity share capital of the for the year 2017-18.