The Hyderabad-based pharma major, Aurobindo Pharma, has registered a growth of 23 per cent in its net profit at Rs 127.02 crore (Rs 103.14 crore) for the year ended March 2004 and stepped up equity dividend to 45 per cent from 35 per cent. It's earning per share (EPS) improved to Rs 26.54 from Rs 22.73. The net profit moved up despite write-offs in respect of manufacturing restructuring/investments, R&D and enhanced staff costs related to regulated markets.

The company's turnover improved by 12.2 per cent to Rs 1363 crore from Rs 1214 crore. Its exports earnings touched to Rs 642 crore as against Rs 564 crore in the previous year, registering a rise of 13.8 per cent. Exports worked out to 47 per cent of total turnover.

APL's total expenditure amounted to Rs 1124 crore as against Rs 1009 crore. The company is investing more on R&D activity and its R&D expenditure increased to Rs 27 crore as against Rs 15 crore in the previous year. Substantial reduction in interest cost helped the company to push its bottom line. The interest cost declined 24.3 per cent to Rs 32.25 crore from Rs 42.59 crore. The depreciation provision worked out to Rs 34 crore as compared to Rs 23 crore in the preceding year.

It has registered a consolidated net profit of Rs 106 crore (Rs 87 crore), registering a growth of 22 per cent. Its consolidated income reached at Rs 1615 crore from Rs 1362 crore. During the period consolidated EBIDTA moved up by 24 per cent to Rs 250 crore (Rs 201 crore).

Aurobindo has emerged as a company that has received regulatory authorities' approvals and joined the select group of global pharma companies with capabilities to penetrate both regulated and semi regulated markets, a company release said.

Company's Unit 3 facility located at Hyderabad, received MHRA (UK) and ANVISA (Brazil) approvals in addition to MCC (South Africa) approval. In April 2004, the US FDA inspected Unit 1 (API) and Unit 3 (formulations) and the Company expects to get the product approvals in near future. The company has also received its first COS approval from the EDQM (European Directorate for Quality Medicines).

The raw material sourcing unit at China has stabilized production. Aurobindo Datong Biopharma, producing 6 APA has been recording positive net profits consecutively in the last three months even at the current Pen G prices and capacities. The facility at Pydibhimavaram (near Visakhapatnam) is operational in its first operational year, and has begun contributing to cost efficiencies and economies of scale. The operations from Subsidiaries and Joint Ventures are expected to contribute to the net profits on a consolidated basis from FY 04-05 onwards.