Aurobindo Pharma's net profit increased by 42.2 per cent during the quarter ended September 2005 basically due to significant rise in other income and credit of taxation. However, its net profit for the first half ended September 2005 declined sharply by 72.5 per cent to Rs 5.65 crore from Rs 20.58 crore in the first half of 2003-04.
The net sales increased by 18.6 per cent to Rs 319.48 crore from Rs 269.31 crore. The net sales in the first half ended September 2005 improved only by 8.3 per cent to Rs 600.14 crore from Rs 554.24 core in the last period.
The company's profit before interest, depreciation and taxation improved by 6.4 per cent in the second quarter ended September 2005 to Rs 29.10 crore from Rs 27.36 crore in the corresponding period of last year. This growth is mainly due to higher other income at Rs 7.62 crore during September 2005 as against Rs 2.67 crore in the last period.
Aurobindo's profit before taxation declined sharply by 48.9 per cent to Rs 2.52 crore in the second quarter of 2005-06 from RS 4.94 core in the similar period of last year due to higher interest and depreciation provisions. The company paid income tax of Rs 2.38 crore during last period as against a credit of Rs 1.12 crore for taxation in the latest period. This inflated its net profit to Rs 3.64 core from Rs 2.46 crore.
The export sales during the quarter increased from Rs 125.04 crore to Rs 150.62 crore. The formulation sales increased by 120 per cent to Rs 36.79 crore (Rs 16.69 crore).
During the quarter, Zidovudine oral solution 50 mg/5 ml and Zidovudine tablets 300 mg had been given final approval by US FDA thus taking total approvals to 5 in US market. Further, Aurobindo also received tentative approval for Sertraline Hydrochloride tablets 25 mg (base), 50 mg (base) and 100 mg (base) for US market.
Aurobindo has filed additional 13 patents during the quarter and the cumulative filings stand at 152 as of September 2005.
Aurobindo has geared up in the ARV segment by clinching more approvals under the PEPFAR program. As of date, the company has received seven approvals for the purpose of PEPFAR program. The products approved under PEPFAR program are Zidovudine tablets 300 mg, Lamivudine tablets 150 mg & 300 mg, Nevirapine tablets 200 mg, Lamivudine & Zidovudine combination tablets 150 mg/300 mg, Zidovudine oral solution 50 mg/5 ml, Efavirenz tablets 600 mg and Stavudine capsules 30 mg & 40 mg. The World Health Organization (WHO), Geneva, has also included Aurobindo's products in its pre-qualification list.