Aurobindo Pharma's net profit rises 4.6% at Rs 639.5 crore in Q2, revenues grow nearly 18%

Hyderabad: Aurobindo Pharma Limited on Tuesday said its consolidated net profit (after JV share, minority interest) for the quarter ended 30 September was up by 4.6 percent to Rs 639.5 crore against Rs 611.4 crore in the Q2 FY 19. [caption id=“attachment_6010171” align=“alignleft” width=“380”] Representational image. Reuters[/caption] Revenues from operation grew by nearly 18 percent 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.” Formulation revenues for the quarter posted a growth of 21.8 percent YoY to Rs 4,793.8 crore and accounted for 85.6 percent of total revenues, while EU formulations revenue in Q2 FY20 witnessed a growth of 21.2 percent 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 Q2 FY 20.