Aurobindo Pharma, a Rs.3,575 crore pharma
major from Hyderabad, has posted impressive performance during the
second quarter ended September 2010. Its consolidated net profit surged
by 92.2 per cent to Rs.198.32 crore from Rs.103.19 crore in the corresponding period of
last year. EBDITA increased by 20.5 per cent to Rs.264.80
crore from Rs.219.70 crore. The foreign
exchange gain was Rs 21 crore as against loss of Rs.3.7
crore in the last period. With strong improvement profits, earnings per
share went up to Rs.34.37 crore from Rs.19.19 in the last period.
The company
announced interim dividend of 100 per cent (Rs.5
per share of the face value of Rs.5 each)
and decided to sub-division of equity shares into the face value of Rs.1 each. After the announcement, Aurobindo
scrip reached at its 52-weeks highest level today at Rs.1311.95 on BSE.
Its net sales improved
by 26 per cent to Rs.1,113 crore from Rs.882 crore. The formulation sales improved by
38.3 per cent to Rs.615.7 crore during
the quarter under review from Rs.445.20
crore in the last period. Its formulation sales constitute 57.7 per cent
of gross sales as compared to 51.3 per cent in the similar period of
last year. The company's sales in US increased by 28.8 per cent to Rs.295.5 crore and that in Europe moved up by
54.7 per cent to Rs.86 crore from Rs.55.6 crore. The company filed 5 ANDAs and its
cumulative filing reached at 185. Further, it filed 33 dossier filings
in Europe with cumulative filings of 852. Aurobindo.
Ramprasad
Reddy, chairman, said, “Our business have been progressing
satisfactorily and resulted in improved performance during the quarter.
The recent commercialization of the large formulations Units in
Jedcherla SEZ near Hyderabad and New Jersey will further strengthen the
operations of the company forward.”
For the first half ended
September 2010, Aurobindo's net sales increased by 17.3 per cent to Rs.2034 crore from Rs.1736
crore in the similar period of last year. Its net profit, however,
declined by 7.4 per cent to Rs.249.82
crore from Rs.269.77 crore. Its US sales
moved up by 11.1 per cent to Rs.512 crore
and that in Europe increased by 57.4 per cent to Rs.161
crore.