Aurobindo Pharma’s Q1FY24: Revenue Hits ₹7,567 Crore with 10.5% Growth

On August 10, 2024, Aurobindo Pharma Limited released its consolidated financial results for the quarter ending June 30, 2024.

Aurobindo Pharma reported a 10.5% year-over-year increase in revenue from operations, reaching ₹7,567 crore, driven by strong performance across its business segments. The company’s US formulations (excluding Puerto Rico) saw a 13.3% YoY growth, contributing ₹3,555 crore, while Europe formulations revenue increased by 7.9% YoY to ₹1,982 crore.

Revenue from Growth Markets surged by 49.2% YoY to ₹709 crore, and ARV revenue rose by 13.9% YoY to ₹229 crore. The API segment also posted a 5.6% YoY growth, bringing in ₹1,092 crore. Before considering Forex and Other Income, Aurobindo’s EBITDA stood at ₹1,620 crore, with a margin of 21.4%. The company invested ₹339 crore in Research & Development, representing 4.5% of its revenues.

Additionally, Aurobindo received final approval for 10 ANDAs from the US FDA, including one speciality and injectable product. Net profit after accounting for JV and minority interests reached ₹919 crore, a significant increase from ₹571 crore in the same quarter of the previous year. This resulted in a 61.4% YoY growth in basic and diluted EPS, which stood at ₹15.69 per share.

Commenting on the Company’s performance, Mr K. Nithyananda Reddy, Vice Chairman and Managing Director, said: “We are pleased with our continued strong performance this quarter, with significant top-line growth across all our business segments. Our profitability was sustained by improved gross margins and operational efficiencies while ramping up our recently commercialised plants.”

Aurobindo Pharma’s formulations revenue grew by 14.6% YoY to ₹6,475 crore, driven by strong growth across the US, Europe, Growth Markets, and ARV segments. The US formulations led with ₹3,555 crore, and the API business contributed ₹1,092 crore. The company also filed 8 ANDAs and launched 10 products, including injectables.

About Aurobindo Pharma Limited

Aurobindo Pharma Limited, based in Hyderabad, India, is a global pharmaceutical company that develops, manufactures, and sells a wide range of generic and speciality medicines and active pharmaceutical ingredients (APIs). The company operates in over 150 countries and has 29 manufacturing and packaging facilities approved by major regulatory bodies like the USFDA, UK MHRA, and Japan PMDA, among others.

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