Aurobindo Pharma, a Rs.5,575 crore plus pharma major, has registered impressive financial performance during the third quarter ended December 2013 and its consolidated net profit has taken a jump of 355 per cent and touched to Rs.417.49 crore from Rs.91.81 crore during the corresponding period of last year. Its EBDITA also moved up by 144 per cent to Rs.647.36 crore from Rs.262.73 crore. Its consolidated net sales increased strongly by 37.6 per cent to Rs.2,136 crore from Rs.1,552 crore. With hefty rise in profits, its EPS touched to Rs.14.34 as against Rs.3.15 in the last period.
The strong performance has translated into gain of over Rs.25 in the Aurobindo share on BSE. The scrip touched to its yearly peak level at Rs.536 today in the morning session on BSE.
The company's formulation sales increased by 57.5 per cent to Rs.1,436 crore from Rs.912 crore and that of API sales moved up by 12.8 per cent to Rs.745 crore from Rs.660 crore. Formulations sales constitute almost 66 per cent and API 34 per cent of gross sales. Its sales in US surged by 81.4 per cent to Rs.931 crore from Rs.513 crore and that in Europe increased by 36.6 per cent to Rs.151 crore. The company has filed 14 ANDAs with US FDA and its cumulative filings reached at 308 ANDAs. It received total 188 ANDA approvals which includes 25 tentative. It also received 66 approval from MCC-SA, 47 from TGA, Australia, 45 approvals by Health Canada. The company incorporated a wholly owned subsidiary viz. AuroZymes Ltd in November 2013.
The standalone net sales registered a growth of 34 per cent and reached at Rs.1,893 crore during third quarter from Rs.1,413 crore and its standalone net profit went up to Rs.418 crore from Rs.144 crore.
N Govindarajan, managing director, said, “We have had a robust quarter driven by our sustaining base business along with successful launches in US, translating into better top and bottom line. We are confident to sustain the momentum as we foray into strengthening our access into markets, products and technology platforms where we are not dominantly present as we consolidate on our existing businesses.”
For the nine months ended December 2013, Aurobindo's consolidated net sales increased by 35.5 per cent to Rs.5,733 crore from Rs.4,230 crore in the similar period of last year. Its net profit went up by 362 per cent to Rs.671 crore from Rs.185 crore. Its EBDITA grew by 111 per cent to Rs.1,402 crore from Rs.663 crore. Its formulation sales increased by 52.5 per cent to Rs.3,765 crore from Rs.2,469 crore in the same period of last year. Its USA sales increased by 80.5 per cent to Rs.2,287 crore and that in Europe increased by 42.8 per cent to Rs.495 crore.