Aurobindo Pharma, on Saturday, posted a 79.5 per cent year-on-year (Y-o-Y) increase in profit after tax (PAT) during the fourth quarter of the financial year 2023-24 (Q4FY24), reaching Rs 908.7 crore. The company also posted a 14.86 per cent increase in its consolidated revenue from operations, which came in at Rs 7,491.9 crore. This increase in PAT was attributed to expansion into the new markets, product launches and stable pricing.
The Ebitda (earnings before interest, tax, depreciation and amortisation) rose 68.3 per cent Y-o-Y reaching Rs 1,687 crore.
Speaking on the results, K. Nithyananda Reddy, vice-chairman and managing director of Aurobindo pharma said, “We are extremely delighted to report a strong performance for the quarter and the year, supported by the expansion into the new markets, product launches and stable pricing. Our improved capacity utilisation has led to higher operating efficiencies. We are confident of continuing our growth in the upcoming year, while stabilising the operations of the recently commercialised facilities.”
For the full year of FY24, the company posted a 16.6 per cent Y-o-Y increase in revenue, with the PAT also increasing by 64.6 per cent for the period reaching Rs 28,704.5 crore and Rs 3,172.9 crore respectively. The Ebitda was down by 55.5 per cent reaching Rs 5,843 crore.
In Q4FY24, US formulations (excluding Puerto Rico) led with a 21.6 per cent Y-o-Y increase to Rs 3,588 crore ($432 million). Europe formulations rose by 10.4 per cent Y-o-Y to Rs 1,832 crore (EUR 203 million), Growth Markets revenue soared by 49.5 per cent Y-o-Y to Rs 852 crore ($103 million), and ARV revenue climbed 31.5 per cent Y-o-Y to Rs 238 crore ($29 million). API revenue remained stable at Rs 1,019 crore ($123 million). R&D expenses were Rs 392 crore, accounting for 5.2 per cent of revenues. The company received final approval for 17 ANDAs (Abbreviated new drug application), including 4 specialty and injectable products from the USFDA (US Food and Drug Administration).
First Published: May 25 2024 | 9:51 PM IST
