In Short:
Aurobindo Pharma’s net profit for the fourth quarter ending March 31, 2024, was ₹909 crore, a 79.6% increase from last year. Revenue for the quarter was ₹7,580 crore, a 17.1% increase. For the financial year 2023-24, net profit was ₹3,173 crore on a revenue of ₹29,002 crore. The company spent 5.2% of its fourth-quarter revenue on research and development and received final approval for 17 ANDAs from the USFDA.
Aurobindo Pharma’s Strong Performance in Fourth Quarter
In some exciting news, Aurobindo Pharma has reported a net profit of ₹909 crore in the fourth quarter ending March 31, 2024. This is a significant increase compared to ₹506 crore in the same quarter last year, showing a remarkable growth of 79.6 per cent.
Impressive Revenue Growth
The company also registered a revenue of ₹7,580 crore in the quarter, compared to ₹6,473 in the same quarter last year, indicating a growth of 17.1 per cent.
For the financial year 2023-24, Aurobindo Pharma reported a net profit of ₹3,173 crore on a revenue of ₹29,002 crore.
Market Performance
In the US formulations (excluding Puerto Rico), revenue in the quarter increased by 21.6 per cent year on year to ₹3,588 crore, while Europe formulations revenue contributed ₹1,832 crore.
The company allocated ₹392 crore, which is 5.2 per cent of its fourth quarter revenue, towards research and development.
Regulatory Approvals
It’s also worth mentioning that the company received final approval for 17 ANDAs (Abbreviated new drug applications), including four specialty and injectable products from the USFDA (US Food and Drug Administration).
Positive Outlook
K Nithyananda Reddy, Vice-Chairman and Managing Director of Aurobindo Pharma, expressed his delight over the strong performance for the quarter and the year. He attributed this success to the company’s expansion into new markets, product launches, and stable pricing. Reddy emphasized the higher operating efficiencies due to improved capacity utilization.
Looking ahead, Reddy stated, “We are confident of continuing our growth in the upcoming year, while stabilizing the operations of the recently commercialized facilities.”
